The Canadian Environmental Assessment Agency (CEAA) has completed the federal environmental assessment for the proposed Pacific NorthWest LNG project, prompting the federal government to conditionally approve the project with 190 legally-binding conditions. These conditions cover long-term environmental monitoring, wetland management, fish and fish habitat, human health and birds among others. The legally binding conditions also include a cap on CO2 emissions.
Pacific NorthWest is a proposed 12 Mt/year gas liquefaction project near Lelu island in British Columbia, worth C$36bn (US$28bn), developed by Malaysian oil and gas company Petronas (62%), in partnership with Sinopec, Japex, Indian Oil Corporation (10%) each, China Huadian (5%) and Petroleum Brunei (3%). Operations are expected to start as early as 2019-2020 but may be delayed as project partners have already frozen the project for 3 years. In addition, Petronas has announced that it would review the project in a context of a cost-cutting strategy (US$12.1 cost reduction plan by 2020) and low gas prices (-70% in Asian spot LNG prices since 2014).
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