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Final Investment Decision for LNG Canada’s investment partners delayed

There’s no longer a timeline on an investment decision for LNG Canada’s plans to export natural gas from Kitimat.

Joint venture partners of the company say that global industry challenges and capital constrains are to blame for pushing back the decision that was expected for the end of the year.

“Our project has benefited from the overwhelming support of the BC Government, First Nations – in particular the Haisla, and the Kitimat community. We could not have advanced the project thus far without it. I can’t say enough about how valuable this support has been and how important it will be as we look at a range of options to move the project forward towards a positive FID by the Joint Venture participants,” said Andy Calitz, CEO LNG Canada.

The official release from LNG Canada today(MON)says their joint venture participants need more time before a final decision.

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With their pipeline partner coastal gas link, the company says they have received all the necessary permits and first nations support along the pipeline right-of-way.

LNG Canada Joint Venture Participants are Shell (50%), PetroChina (20%), Mitsubishi Corporation (15%) and Kogas (15%).

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