yes the decision was delayed from the end of 2014 to June because the Federal government’s EA finalization was delayed until April from end of last year, since i’m a betting person it will get the go ahead and bring much needed jobs to our region.
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Worked for me
Petronas has already said the price of oil currently will have no bearing on its long-term decision for this plant…in addition, cheaper oil and a lower loonie is making the construction economics more affordable than before. Furthermore, the slump in the oil industry in Alberta is freeing up much of the same labour force that Petronas is needing for the construction phase, something that was also hindering the project before.
Shipping from the Northwest of BC also provides operation savings including much shorter shipping times (which saves a ton of costs), less port congestion and cooler ambient temperatures which naturally makes it less expensive to chill LNG. The chilling process costs from any Northwest LNG terminal would be the cheapest in the world. These are all factors that Petronas (and others) are looking at.
In addition, Petronas is said to be on the verge of a new deal with another major oil company to divest another 10-12% of their ownership. I think if they get that deal done, they will move forward for sure with a positive FID.
I am very glad to see that the environmental assessment authority is doing it’s job. Given the Harper Government’s way of doing things makes it surprising … In the end the damage or potential damage to Salmon Habitat may spell the end to this proposal, or at least further stall any moving forward.
holy crap what is up with the EA with the federal government? the same additional review was done within 2 months via the provincial review and now the federal government needs even more time.