The Malaysian state-owned oil and gas group Petronas is considering using former Ridley Island as the future building location for the Pacific Northwest LNG project instead of Lelu Island (British Columbia, Canada). Ridley Island was the site of Shell's Prince Rupert abandoned LNG project.
The 12 Mt/year gas liquefaction project (option for a third train of 6 Mt/year) is developed by Petronas (62%), in partnership with Sinopec, Japex, Indian Oil Corporation (10%) each, China Huadian (5%) and Petroleum Brunei (3%). The project was approved by the Canadian Environmental Assessment Agency (CEAA) and the Canadian government in September 2016 after three years of regulatory review; the approval included 190 conditions, including a cap on CO2 emissions. In December 2014, Petronas and its partners decided to defer the FID, due to high development costs related to the pipeline (at this time US$21bn) and the facility (US$11bn, which must be reduced before any positive FID) and to uncertainties over the project's economic viability.