Petronas scraps C$36b LNG project in western Canada

Calgary, Alberta

MALAYSIAN oil company Petronas scrapped a proposed C$36 billion (S$39.1 billion) liquefied natural gas (LNG) project in western Canada due to weak prices, in a blow to both its global ambitions and Canada's hopes of becoming a major LNG player.

Pacific NorthWest LNG in British Columbia (BC) was meant to produce 12 megatonnes per year and spur further development of Canada's largest shale play but industry observers said that the move was widely expected, given years of delay.