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Home / News / BC and Petronas sign MOU for LNG project

BC and Petronas sign MOU for LNG project

The BC Government has announced a deal with Malaysian energy giant Petronas that officials say moves a proposed LNG project near Prince Rupert another step forward.

The government says the memorandum of understanding includes long-term royalty agreements that will mean revenue minimums for the province and rate stability for Petronas.

The MOU is not a final investment decision on the $36 billion Pacific Northwest LNG project proposed for Lelu Island.

Premier Christy Clark was asked about the Lax Kw’alaams Band’s recent rejection of a billion-dollar deal with Pacific NorthWest LNG over the proposed location of the terminal.

Clark says the government remains confident that the project can proceed, despite environmental concerns expressed by First Nations about the project.

Pacific NorthWest LNG says there is still “heavy lifting” to be done when it comes to consultations with First Nations.

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