30 Sep '15, 4am

Petronas’ $36bn LNG project in Canada runs into turbulence

Petronas’ $36bn LNG project in British Columbia, Canada has hit some turbulence in the wake of depressed LNG prices. And the scandals plaguing the Najib administration have not inspired confidence, judging by the readers’ comments in response to online news reports about the project. This is from the Globe and Mail : And finally, though it is not implicated in the scandal, Malaysia’s state-owned oil company Petronas – which pays a huge annual dividend to the government and accounts for almost half of Malaysia’s oil revenues – is one of the largest foreign investors in B.C. Petronas, of course, is the company behind the proposed $36-billion Pacific NorthWest LNG project. Kenneth Courtis, a Tokyo-based former vice-chairman for Goldman Sachs Asia who has advised on large LNG projects in Asia, says a looming supply glut of liquefied natural gas will depress prices for years to...

Full article: http://anilnetto.com/economy/energy-resources/petronas-36...

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