Pacific NorthWest LNG a No Go
Prince George, B.C. – PETRONAS and its partners have decided not to proceed with the Pacific NorthWest LNG project at Port Edward.In a release issued this morning, the company says “The decision was made after a careful and total review of the project amid changes in market conditions.”
PETRONAS’ Executive Vice President & Chief Executive Officer Upstream, 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.”
“We, along with our North Montney Joint Venture partners, remain committed to developing our significant natural gas assets in Canada and will continue to explore all options as part of our long-term investment strategy moving forward,” added Anuar.
The company says it, and its project t partners are “thankful for the support received from everyone involved, especially the area First Nations, the District of Port Edward, the City of Prince Rupert and their communities for their invaluable involvement and efforts in the project.”