A liquefied natural gas (LNG) export terminal construction located on the British Columbian coast has been deferred until 2018.
This is due to Woodfibre LNG Ltd’s attempts to make the C$1.6bn (US$1.3bn) development competitive against weak prices.
The Vancouver-based company are finance by Sukanto Tanoto’s RGE Group, and are the first to construct a Canadian natural gas seaborne export.
The terminal should have been exporting its capacity of 2.1Mtpa (million tonne per annum) in 2017, but now aims for completion next year.
“We’re definitely moving forward, but the reality is that we still have some issues to resolve before we can say: ‘We’re in and this is actually happening on this timeline,'” commented spokeswoman Jennifer Siddon.
“The process between the completion of FEED and EPC can take several months, so that would take us into 2018,” she added.
KBR Inc and JGC Corp have completed the dual front-end engineering process, allowing the company to continue to the next stage of engineering, procurement, and construction.
Woodfibre is now pursuing aid from provincial and federal governments for a competitive advantage.