Prine RupertGas Transmission Project

Petronas warns Canada not to slaughter its LNG ‘golden egg’

The Financial Post reports the chief executive of Malaysia’s Petroliam Nasional Bhd. said the state-run energy giant will not proceed with a planned liquefied natural gas export terminal proposed for Canada’s West Coast at all costs, even as the company eyes a potential final investment decision on the plant by year-end.

Tan Sri Dato’ Shamsul Azhar Abbas said Wednesday his company aims to finalize terms of a provincial tax on LNG profits by November, in time for a decision on whether to actually build the $9-billion to $11-billion terminal by December. British Columbia, which is counting on a gas-driven boom to cut debt and boost employment, has proposed a levy of up to 7% on LNG income.

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