Petronas could spend $36 billion to export Canadian LNG
Canada went from a big favourite to a major underdog in the battle to export liquified natural gas to Asia but the government is beginning to fight back. On Friday, the Federal government announced an investment tax break for LNG and earlier this year the provincial government also brought in incentives in late 2014.
The big fish is Malaysian state energy company Petronas. They estimate $36 billion will need to be spent to achieve planned exports by 2019, include two major pipeline projects.
The Globe & Mail reports that BC provincial leaders will meet with top executives from Petronas in March but a deal already deeply in peril. In Dec, Petronas placed the venture on hold indefinitely.
A final decision will be made some time after June, when environmental assessments are due.
