By Natalie Obiko Pearson (Bloomberg) -- Malaysia’s Petroliam Nasional Bhd abandoned its long-stalled plans to build a $27 billion liquefied natural gas export terminal on Canada’s west coast, citing changes in market conditions. “Prolonged depressed prices and shifts in the energy industry have led us to this decision,” Anuar Taib, chairman of the board of the Pacific … [Read more...]
Petronas Said to Eye New Site in $27 Billion Canada LNG Plan
By Natalie Obiko Pearson and Josh Wingrove (Bloomberg) -- Malaysia’s Petroliam Nasional Bhd. is seeking to move ahead with a proposed $27 billion liquefied natural gas project in western Canada after identifying a new site for shipping the fuel, a shift that may help reduce costs and quell local opposition. Petronas’s Pacific NorthWest LNG project would continue as … [Read more...]
World’s First Floating LNG Plant Misses the Boat on LNG Pricing
By Dan Murtaugh and James Paton (Bloomberg) -- It’s longer than three soccer fields, heavier than two aircraft carriers and powerful enough to chill gas into liquid colder than the surface of Jupiter. And its maiden voyage couldn’t have come at a worse time. The world’s first modern vessel for producing liquefied natural gas was ordered by Petroliam Nasional Bhd in … [Read more...]
Photos: DSME Completes World’s First Floating LNG Facility PFLNG SATU
Daewoo Shipbuilding & Marine Engineering Co has completed construction of the world's first floating liquified natural gas facility at the DSME shipyard in Okpo, South Korea. The facility is being built for the Malaysian oil and gas company Petronas. Final construction was marked on March 4th following a naming ceremony held by Petronas together with partners in … [Read more...]
Petronas’ $29 Billion Canadian LNG Export Project Hits New Snag with Aboriginal Group
By Rebecca Penty and Allison McNeely (Bloomberg) -- Petroliam Nasional Bhd.’s C$36 billion ($29.4 billion) Canadian natural gas export project was treading water after the global market for the fuel weakened. Now local opposition is adding a new hurdle. A British Columbia aboriginal group that claims title to land earmarked for the liquefied natural gas terminal says it … [Read more...]