Friday, 1 June 2018

Former rivals team up on LNG Canada, but cost concerns remain

Waterfront at LNG Canada project in Kitimat Waterfront at LNG Canada project in Kitimat

Seeking to monetize Canada’s abundant natural gas reserves Shell has agreed to its former rival Petronas joining the US$11 billion LNG Canada project with the aim of making a financial investment decision by the end of this year. However, costs will remain a major concern of the project, Wood Mackenzie senior analyst Prasanth Kakaraparthi cautioned, advising the companies to try take advantage of the latest tax breaks announced by the government of British Columbia.

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