The proponents of a Kitimat-based LNG project won’t be deciding whether or not to forge ahead this year.
LNG Canada has announced that it will delay its Final Investment Decision which was planned for the end of 2016.
CEO Any Calitz says the project remains a promising opportunity with strong stakeholder and First Nations’ support.
But LNG Canada says in the context of global industry challenges, including capital constraints, it wants to take more time before making a final decision.
It says it cannot confirm a timeline for when the decision will be made.
Participants in the joint venture include, Shell, PetroChina, Mitsubishi Corporation, and Kogas.
LNG Canada says it plans to continue key site preparation activities as it works with stakeholders on a revised path forward to a Final Investment Decision.