Canada energy group AltaGas and Japanese oil refining company Idemitsu Kosan have decided to freeze their Triton LNG project in Canada, due to low energy prices.
The two companies, which each own 50% in the project, planned to export LNG from a 2.3 Mt/year (3.1 bcm/year) liquefaction project, near either Kitimat or Prince Rupert, British Columbia.
The National Energy Board (NEB) of Canada approved an application for a 25-year gas export licence for up to 3.7 bcm/year in April 2014 but the project has remained suspended since then, due to falling energy prices on the global markets. Idemitsu could revive the project when energy prices recover. The project was initially expected to be commissioned in 2017 and had been delayed to 2019.
In February 2016, a consortium of companies including AltaGas and Idemitsu decided to scrap the 6.8 Mt/year Douglas Channel LNG project in British Columbia.