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Heavy environmental conditions: IOC JV in Canada on hold
Mar 22: Governmental policies have become a factor in Malaysia’s Petronas withholding final word on whether it will proceed with a proposed LNG gas plant on the British Columbia coast
8Petronas, which won conditional Canadian government approval in September after three years of regulatory review, is currently reassessing the project’s costs.
8The approval came with 190 conditions, including a cap on greenhouse-gas emissions.
8Petronas is the majority owner of the multibillion-dollar Pacific NorthWest LNG project, which could produce as much as 19.2 mtpa of the fuel, or about 8% of 2015’s global trade.
8Its partners are China Petrochemical Corp., Japan Petroleum Exploration Co., Indian Oil Corp. and Brunei National Petroleum Co.
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