*On the Pacific NorthWest LNG project in British Columbia, Sharbini said the final investment decision has been deferred to the first quarter of 2015 as it is still in discussions with the British Columbia government on several issues including capital allowance, cost of the LNG plant and cost of the pipeline.
He also said that Petronas is still in talks with two to three companies on divesting its stake in the project. To date, it has sold 38% of its equity and is working towards reducing its stake to 50%.
“I have not heard of anybody saying that they want to pull out (from the Canadian project). This is a very good project. If we can get all the various parts of the project lined up, it is a very good project for Canada and the shareholders,” he added.*
“The former president of the deferred LNG project led by Malaysian national oil company Petronas says he’s confident its partners will give a final investment decision to proceed within the next three to six months despite plunging oil prices.”
Is it possible that Petronas deferred until its environmental assessment is rubber stamped? This project is a done deal. Too bad its going to mess up salmon stocks. But the world is growing in cattle and chicken dinners, so we’re all good.
Anyway, I do wonder what happens when they begin dredging. All of that effluence from the pulp mill just lies waiting to make its return!
ummmm the revised EA review is that the dredging was curtailed from 10 million tons to half a million tons thanks to the bridge being added, so not much will be disturbed
and now that is down to the nitty gritty part of the project, all the prelim bids are now being asked for a hard bid that is cheaper then what was submitted which is what a project like this asks for, other conditions are MONEY MONEY MONEY if they have the money to go ahead or not to make it feasible.
Interesting story from Japan. A private Japanese company is buying a stake in the project. They are paying more than twice what the government paid (US$79m for 1% today, vs US$185m for 5% last March).