Petronas could turn its back on Canada LNG project

Petronas could turn its back on Canada LNG project

Malaysia’s Petronas could well turn away from its $10 billion LNG project in Canada saying the country’s progress on a new taxation scheme is rather slow. 


Even though British Columbia government said the legislation will be out in October and approved by the end of November, Petronas spokesperson confirmed the comments made by Shamsul Abbas, the company’s chief executive in an interview with Financial Times, that he doubted Petronas would be able to make the final investment decision by the end of the year.

Petronas said it needs assurance that the project is economically viable and satisfies its investment criteria before going on in the project, reports Reuters.

Shamsul was also quoted saying, “Rather than ensuring the development of the LNG industry through appropriate incentives and assurance of legal and fiscal stability, the Canadian landscape of LNG development is now one of uncertainty, delay and short vision.”

 

LNG World News Staff, September 25, 2014; Image: Pacific NorthWest LNG

Share this article

Follow LNG World News

3 thoughts on “Petronas could turn its back on Canada LNG project”

  1. Pingback: Albert

Comments are closed.

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >