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Released July 26, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The massive Pacific NorthWest liquefied natural gas (LNG) project in British Columbia is cancelled. Citing current market conditions, the project partners, including Malaysian company Petroliam Nasional Berhad (Petronas), said Tuesday that the $27 billion, three-train LNG liquefaction plant on the coast of Western Canada will not move forward.
The death of the LNG project puts into question the future of a TransCanada Corporation (NYSE:TRP) (Calgary, Alberta) natural gas pipeline project that would have fed the liquefaction facility.
Anuar Taib, chairman of the Pacific NorthWest LNG Board, said: "We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision."
Canada's federal government approved the Pacific NorthWest LNG project in September of last year. To have been located on Lelu Island within the District of Port Edward, the LNG liquefaction plant would have included up to three trains, each with a capacity of 6 billion tons per year. LNG from the facility would have been aimed at Asian markets.
For more information, see Industrial Info's project reports on trains 1 and 2 and Train 3.
The project's demise also throws the future of a TransCanada pipeline project into question. TransCanada's proposed $5 billion Prince Rupert Gas Transmission System would include a 900-kilometer pipeline to transport natural gas from a point near Hudson's Hope, British Columbia, to the Pacific NorthWest LNG and export facility near Prince Rupert. The pipeline would have an initial capacity of 2 billion cubic feet per day of natural gas. See Industrial Info's project report for more information on the Prince Rupert system.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
The death of the LNG project puts into question the future of a TransCanada Corporation (NYSE:TRP) (Calgary, Alberta) natural gas pipeline project that would have fed the liquefaction facility.
Anuar Taib, chairman of the Pacific NorthWest LNG Board, said: "We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision."
Canada's federal government approved the Pacific NorthWest LNG project in September of last year. To have been located on Lelu Island within the District of Port Edward, the LNG liquefaction plant would have included up to three trains, each with a capacity of 6 billion tons per year. LNG from the facility would have been aimed at Asian markets.
For more information, see Industrial Info's project reports on trains 1 and 2 and Train 3.
The project's demise also throws the future of a TransCanada pipeline project into question. TransCanada's proposed $5 billion Prince Rupert Gas Transmission System would include a 900-kilometer pipeline to transport natural gas from a point near Hudson's Hope, British Columbia, to the Pacific NorthWest LNG and export facility near Prince Rupert. The pipeline would have an initial capacity of 2 billion cubic feet per day of natural gas. See Industrial Info's project report for more information on the Prince Rupert system.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
