Pacific NorthWest LNG announced that the project in Port Edward will not be moving forward.
Project partners pulled the cord following a total review of the project.
The project has been underway for the past five years. Outstanding commitments from the business will be completed by September and offices in Prince Rupert and Port Edward will be closed by the end of August.
Anuar Taib, Chairman of the Pacific NorthWest LNG Board of Directors, says that this decision came after an extensive review of international gas markets.
Taib says the new NDP government did not have any impacts on the decision and the company looks forward to working with them on other projects in the province.
Taib says they still believe an LNG project could happen in BC, in the right market conditions, at the right time.