Canada approves $8 bln LNG plant, but Petronas to review project

By Nicole Mordant and A. Ananthalakshmi
| RICHMOND, British Columbia/KUALA LUMPUR

Malaysia’s Petronas said on Wednesday that it would review a proposed C$11 billion ($8.3 billion) liquefied natural gas plant in western Canada that was approved by Ottawa following a three-year wait.Many analysts are sceptical the project will proceed, with the green light from Prime Minister Justin Trudeau’s Liberal government coming as state-run Petronas is looking to rein in spending in the face of a global slump in prices for commodities, including LNG, and economic slowdown in Malaysia.The decision, which came late on Tuesday in Canada, has been widely seen as a major test for the Liberals, who must juggle the needs of an energy industry suffering from job losses as well as the concerns of environmentalists, who Trudeau courted in his successful 2015 election campaign.”The announcement was just made … We need time to look at the conditions and …
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