LNG Canada project in British Columbia given final approval by shareholders
VANCOUVER — Investors have given final approval for a massive liquefied national gas project in northern British Columbia.
The five partners have agreed to the $40-billion joint venture that includes a gas liquefaction plant in Kitimat on B.C.’s coast and a 670-kilometre pipeline delivering natural gas from the northeast corner of the province.
The partners — Royal Dutch Shell, Mitsubishi Corp., the Malaysian-owned Petronas, PetorChina Co. and Korean Gas Corp. — delayed the final investment decision in 2016, citing a drop in natural gas prices.
But, with the final investment decision, each company will be responsible to provide its own natural gas supply and will individually market its share of liquefied gas.