Malaysia’s Petronas and partners have abandoned plans to build the $27 billion Pacific NorthWest LNG export project at Port Edward in British Columbia, the state-owned company announced on Tuesday.
"We are disappointed that the extremely challenging environment brought about by the prolonged depressed prices and shifts in the energy industry have led us to this decision," Anuar Taib, Petronas’s executive vice president and chief executive of upstream, said in a release.
Petronas received approval for the project in September after three years of environmental and regulatory reviews,...
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