The Financial Post: Petronas threatens to drop out of B.C.’s LNG race

Petronas has gone on record to say the reason they’ve become skeptical is because of a “lack of appropriate incentives.”

“Petronas needs to be assured that the project is economically viable and satisfies its investment criteria before going ahead with the project,” the firm said in a statement to Reuters.

However, Petronas also said it will proceed with financing and evaluation in the race to supply energy to Asian markets as planned, a project worth an estimated $10 billion, until the decision is made.

The province plans to release the legislation in October and implement it in November.

The firm says they’ll make a final investment decision by the end of the year.

Click here to read the entire Financial Post article.

With files from The Financial Post / Reuters

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