An official with company tasked with building a natural gas pipeline for a proposed LNG project on the North Coast admits the plunging price of oil presents another challenge for the development.
John Dunn is Vice President TransCanada’s Prince Rupert Gas Transmission Project which would deliver natural gas to the Pacific NorthWest LNG facility near Port Edward.
Dunn says the volatility of oil prices is a concern, but says it’s important to remember that LNG projects are based on economics covering a 20-50 year life span.
Dunn adds that the drop in oil prices can also have a positive effect.
Dunn says TransCanada expects a final investment decision from PETRONAS on the Pacific NorthWest LNG project sometime this year.
He will be speaking at the Terrace Chamber of Commerce meeting this afternoon.