Pacific NorthWest LNG project not proceeding

Pacific NorthWest LNG (PNW LNG)’s LNG project in Port Edward, British Columbia will not proceed as previously planned.

The decision was made by PNW LNG affiliate PETRONAS and its partners after a review of the project amid changes in market conditions.

Chairman of the PNW LNG Board, Anuar Taib said: “We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision.

“PETRONAS and its North Montney Joint Venture partners remain committed to developing their significant natural gas assets in Canada and will continue to explore all options as part of its long-term investment strategy moving forward.”

President and CEO of PNW LNG, Adnan Zainal Abidin said: “On behalf of the entire PNW LNG team, I would like to thank everyone who has supported the project. I also want to thank everyone who contributed towards the development of this project and its comprehensive environmental assessments. In particular, I want to recognize the area First Nations, the District of Port Edward, the City of Prince Rupert, and their communities for their invaluable support and involvement in the project. I would also like to acknowledge the Pacific NorthWest LNG project team for all of their dedication and hard work.

“Without everyone’s support and involvement, we would not have achieved the many key milestones for the project, including agreements with the area First Nations, the BC environmental assessment certificate and the Canadian environmental assessment approval.”

For more information visit www.pacificnorthwestlng.com

27th July 2017