ExxonMobil to Invest $25b in Canadian LNG Export
U.S. energy giant Exxon Mobil Corp could spend up to $25 billion on a British Columbia LNG terminal project to export liquefied natural gas.
Exxon counts on its global expertise to make the Canadian project viable, says a report in the Globe and Mail. Malaysia’s state-owned Petronas is widely viewed as the front-runner among 18 entrants in the race to export LNG from the West Coast. Exxon is positioning itself to make up ground on Petronas.
But, says the newspaper, Petronas decided last month to delay its decision on whether to forge ahead with its Pacific NorthWest LNG joint venture near Prince Rupert, citing the need to decrease anticipated construction costs, overcome environmental hurdles and consult further with First Nations.
Imperial Oil Resources Limited and ExxonMobil Canada Ltd., under the jointly owned affiliate West Coast Canada LNG project, or WCC LNG has disclosed the strategy for the first phase of their West Coast Canada LNG project.
“Exxon Mobil Corp. has more than 40 years of LNG project development experience, with interests in liquefaction capacity of approximately 65 million tonnes per year in Qatar, Indonesia and Papua New Guinea,” according to the report filed by WCC LNG to the B.C. Environmental Assessment Office.
