Climate change rules forcing Petronas to reconsider LNG investment

UPDATE: According to a tweet from Vancouver Sun reporter Cassidy Olivier, President of Pacific Northwest LNG, Michael Culbert says the National Post story is false. See the tweet below.

Pacific NorthWest LNG president Michael Culbert says Petronas ultimatum to Trudeau story “false.” #bcpoli pic.twitter.com/ZBh9ByQhf4

— Cassidy Olivier (@cassidyolivier) March 8, 2016

Original Story: According to an article in the Financial Post, Petronas is threatening to back away from its Pacific NorthWest LNG project if it doesn’t get federal approval by March 31. The article states from an unnamed source said to be close to the project, that the company is growing frustrated by the federal government’s climate change rules and the resulting uncertainty it creates for the project.

The government is said to be tightening up their environmental reviews in an effort to meet commitments made to cutting down on greenhouse gas emissions.

Last month the Canadian Environmental Assessment Agency was favourable in its review of the project. It also has approval from the B.C. government which came back in November of 2014.

If it goes forward the project will be located on Lelu Island near Prince Rupert.

The article can be seen by clicking here.