Pacific NorthWest announces a conditional FID
Petronas-led Pacific NorthWest LNG announced today that the technical and commercial components of the project have been met, and the company plans to move forward with the final investment decision (FID) on two conditions, according to a company press release.
The first is the approval of the Project Development Agreement by the Legislative Assembly of British Columbia. The second condition for PNW LNG is a positive regulatory decision from the Government of Canada.
“In parallel with work to support the Final Investment Decision, Pacific NorthWest LNG will continue constructive engagement with area First Nations, local communities, stakeholders and regulators,” said Michael Culbert, President of Pacific NorthWest LNG. “A Final Investment Decision is a crucial step to ensure that the project stays on track to service contracted LNG customers,” he added.
On May 14, a British Columbia First Nations group voted unanimously against allowing a ship terminal for the project to be built near the community. Pacific NorthWest offered the group $1 billion, but the Frist Nations turned down the offer saying they were still concerned over the environmental impacts of the project.
