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UPDATE 1-Canada resumes environmental review of Petronas-led LNG project

Published 2016-06-27, 02:32 p/m
© Reuters. UPDATE 1-Canada resumes environmental review of Petronas-led LNG project
NG
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(Adds background on project and delays)
VANCOUVER, June 27 (Reuters) - The environmental review of a
Petronas-led liquefied natural gas project in western Canada has
resumed, starting the clock on a final three-month extension
granted by the federal government, Canada's environmental
regulator said on Monday.
Petronas PETR.UL and its partners have been waiting about
three years for a permit to build the Pacific NorthWest LNG
export terminal in northern British Columbia. The review process
was last paused in March when the regulator requested more
information from the company.
The Canadian Environmental Assessment Agency posted the
company's 271-page response online on Monday, saying it
"satisfies the information request." The agency now has three
months to complete its review.
Canada's ruling Liberals have separately committed to
announcing their final decision on the project by the end of
September, eliminating any further delays.
Long considered a front-runner in the race to build Canada's
first LNG export project, the consortium behind Pacific
NorthWest pledged last June to start construction as soon as it
was approved by regulators, eyeing the end of 2015.
A year later, the environmental review is still underway and
LNG prices have plunged, hurting the economics of the $35
billion project. In April, the then-head of Pacific NorthWest
LNG said the company hoped to have a final investment decision
by late summer or early fall.

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