Posted Oct 6, 2013, 7:43 PM
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Join Date: Aug 2006
Posts: 3,921
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Quote:
Originally Posted by Stingray2004
Major international LNG giant Petronas of Malaysia has previously purchased Progress Energy for ~$6 billion, which has major natural gas upstream assets in NE BC's Montney basin. Petronas has also entered into a contractual arrangement with TransCanada Pipelines for a $6 billion natural gas pipeline from NE BC to Prince Rupert, the location of Petronas' proposed LNG facility.
Currently, the LNG facility and pipeline are in the BC Environmental Assessment Office stage with final certification expected by September, 2014. The Front End Engineering and Design has also been previously awarded to Bechtel/Samsung.
Ergo, a Final Investment Decision (FID) was expected in September, 2014 but after today's announcement that seems to be just a future formality. Today, Petronas announced that it will definitely be proceeding with the LNG facility (plus pipeline and upstream natural gas development) with a gargantuan capital cost of $36 billion!
http://www.theglobeandmail.com/news/...23/?cmpid=rss1 |
Well that's big news. Looks like the 35 billion naval development plan just paid for itself.
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