Petronas LNG go-ahead seen as an good sign for other West Coast projects: expert
CALGARY – An energy industry expert says a tentative decision to go ahead with a multibillion-dollar LNG project in British Columbia sets the stage for other players to follow suit.
Jackie Forrest, vice-president at ARC Financial in Calgary, says Pacific Northwest LNG’s announcement is good for the industry as a whole.
She says that with Pacific Northwest LNG demonstrating the economics of the project work, it reduces risk for other companies looking to export natural gas from the West Coast.
Pacific Northwest LNG, led by Malaysia’s Petronas, says the business case for going ahead with the project is there, but it can’t proceed until B.C. legislation passes and federal environmental approval is obtained.
Rich Coleman, the province’s natural gas development minister, says he’s not worried First Nations opposition will sytmie the project, and that good progress has been made on that front in recent weeks.
Coleman also says it’s his understanding that the environmental review should be able to continue during a federal election campaign, but the timing of a cabinet decision on the project could be affected.