Business in Vancouver Magazine…
https://www.biv.com/article/2016/12/lead-contractor-shell-lng-canada-project-cancels-b/
"Shell had been expected to make a final investment decision on the multi-billion LNG project by now, but has deferred that decision indefinitely. The Petronas Pacific NorthWest LNG project has also delayed an FID.
Major LNG proposals in Canada missed a window of opportunity when they failed to have LNG projects approved in time to nail down long-term contracts with Asian utilities.
There is now a glut of LNG on the market, thanks to new LNG plants in Australia, and companies like Shell are reducing their capital spend as they cope with falling revenue from low oil prices. And in light of both low oil and gas prices in North America, Asian buyers are now expecting lower prices for LNG."
Consultant and fellow at the Oxford Institute for Energy Studies, told Business in Vancouver in October that it’s unlikely any large LNG project in the world will get an FID before 2019.
Travis Whalen, energy analyst for S&P Global Platts, agrees.
“It looks like there could be something of a rebound in demand, an opening for Canada, in the early 2020s, but before then there’s really just not a lot of space for any of these Canadian projects,” he said. “It’s going to be very difficult to secure the contracts that will let these projects move forward.”
Look folks…Like i’ve been saying…
Petronas(PNWLNG) and Shell (LNG Canada)…They’ve been gone since 2015…
As for Shell and Petronas leaving a footprint, they spent some money and own some assets…So, …They’ll never be gone in you Prince Rupertonians eyes…
I’m reminded of an old saying…
"If wishes were horses beggars could rise"
Sparkle ponies down…
Cheers