VANCOUVER | BY JULIE GORDON: 4 FEB 2016
British Columbia’s ambitions to become North America’s next major liquefied natural gas exporter took another hit on Thursday, as Royal Dutch Shell pushed back a final investment decision (FID) on its LNG Canada project to late 2016.
The delay came as Europe’s largest oil company reported its lowest annual income in over a decade and said it would take further steps to cut costs to cope with weak oil prices if needed.
LNG Canada, located on British Columbia’s rugged northern coastline, is one of the frontrunners in a now slowing race to build Canada’s first LNG export terminal. It has already been granted its key environmental permits.