The Globe and Mail reported that a liquefied natural gas project, led by Malaysia’s state-owned Petronas, has emerged as the leading entrant in a crowded Canadian field that faces stiff global competition.
Petronas’ Pacific NorthWest LNG, one of 14 projects proposed for British Columbia’s coast, has been garnering increased attention in the energy industry as the Malaysian government adds new Asian partners for the joint venture.
In January 2013, TransCanada was selected by Petronas-owned Progress Energy Canada Ltd. to design, build, own and operate the Prince Rupert Gas Transmission Project, an approximately 900-kilometre long natural gas pipeline in northern British Columbia.
If approved, the Prince Rupert Gas Transmission Project will safely deliver natural gas from a point near Hudson’s Hope to the proposed Pacific NorthWest LNG facility on Lelu Island, within the District of Port Edward.
A new report by RBC Dominion Securities Inc. singled out Pacific NorthWest LNG as the B.C. project that has been taking large strides toward reaching the goal of supplying energy-thirsty customers in Asia.
“Pacific NorthWest LNG has established a high degree of momentum, with a final investment decision expected by the end of 2014.”
— Global study by RBC’s energy team headed by Greg Pardy and Kurt Hallead