Malaysia’s NOC has updated its construction plans to move the docking facilities to Ridley Island, where vessels will receive the LNG for transport. The decision removes the need for a costly suspension bridge that spanned an environmentally fragile marine area, people with knowledge of the plans told Bloomberg on Wednesday.
The USD 27-billion LNG project on Lelu Island in the province of British Colombia would make Petronas the largest foreign direct investor in the country. The company is in the planning stages of the facility, along with partners China Petrochemical Corporation, Japan Petroleum Exploration Company, Indian Oil Corporation and Brunei National Petroleum Company.
In September 2016, Canada approved Petronas’ proposal for the LNG export terminal after three years of regulatory review, despite fears that the project will raise Canada’s emission rates. The project will allow the country to export natural gas to Asian markets, and will add USD 2.19 billion per year to Canada’s GDP, according to Petronas estimates.
The decision to move onward with the project is expected to be decided in early 2017, following a major project review.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.