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Small-scale LNG project in Canada halts development

Published 2016-02-25, 07:36 p/m
© Reuters.  Small-scale LNG project in Canada halts development
EDF
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EXMR
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ALA
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5019
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TOKYO, Feb 26 (Reuters) - A small-scale liquefied natural
gas project on British Columbia's Pacific coast led by Canada's
AltaGas ALA.TO said it would halt further development citing
unfavourable market conditions.
The Douglas Channel LNG Consortium, which had been expected
to go to final investment decision (FID) by the end of 2015, was
considering a 550,000 tonnes per year floating LNG facility near
Kitimat in British Columbia, with first LNG exports in 2018.
The consortium, which includes Japan's Idemitsu 5019.T ,
France's EDF Trading EDF.PA and Belgium's Exmar EXMR.BR , on
Thursday announced the decision to halt development "due to
adverse economic conditions and worsening global energy price
levels," AltaGas said in its quarterly earnings results.

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