A consortium of companies led by Malaysia’s Petroliam Nasional Bhd (Petronas) has moved forward with a positive final investment decision on Canada-based USD 36 billion Pacific NorthWest LNG (PNW LNG) project, and will confirm the decision once the project is given an all-clear by the governments of British Columbia and Canada.
More specifically, the first condition for the positive final investment decision to be confirmed is approval of the Project Development Agreement by the Legislative Assembly of British Columbia, and the second is a positive regulatory decision on Pacific NorthWest LNG’s environmental assessment by the Government of Canada.
”In parallel with work to support the Final Investment Decision, Pacific NorthWest LNG will continue constructive engagement with area First Nations, local communities, stakeholders and regulators,” said Michael Culbert, President of Pacific NorthWest LNG.
”A Final Investment Decision is a crucial step to ensure that the project stays on track to service contracted LNG customers.”
British Columbia’s Minister of Natural Gas Development Rich Coleman has welcomed the positive investment decision by Pacific NorthWest LNG.
”Our government has put this new industry in a position of strength to move forward and created certainty for Pacific NorthWest LNG on its path,” Minister Coleman said.
”We recognize there is work to do, including an environmental assessment by the Government of Canada, as well as engagement with First Nations. The Province of British Columbia will continue to work with all partners to ensure the project is developed with the highest standards of environmental protection and enhancement.”
Pacific NorthWest LNG plans to build an LNG facility on Lelu Island, located in the District of Port Edward on land administered by the Prince Rupert Port Authority. The first phase of the project would consist of two liquefaction trains, two LNG storage tanks, marine infrastructure with two berths for LNG carriers, a material offloading facility, as well as administration and auxiliary buildings. The facility would liquefy and export natural gas produced by Progress Energy Canada Ltd. in Northeast BC for transport to Lelu Island by the Prince Rupert Gas Transmission project.
Pacific NorthWest LNG is comprised of PETRONAS, Sinopec, JAPEX, Indian Oil Corporation and PetroleumBRUNEI.