Petronas ‘Or Else’ To Canada May Work For LNG Engineering

In his frustration at the interminable delay in announcing tax and regulatory rules relating to the liquefied natural gas (LNG) industry, Petronas Gas Berhad (KLSE:PETGAS) CEO Shamsul Azhar Abbas served a deadline to the British Columbia government.

“Rather than ensuring the development of the LNG industry through appropriate incentives and assurance of legal and fiscal stability, the Canadian landscape of LNG development is now one of uncertainty, delay and short vision,” Mr. Shamsul said, according to the Financial Times. He said he would be forced to cancel his company’s proposed $36 billion investment in the region through the Pacific NorthWest LNG project unless the B.C. government released the rules by next month. LNG export facilities constitute about $11...