LNG Canada CEO Says Construction WILL Start in 2018
There's renewed optimism that the massive LNG Canada project proposed for Kitimat WILL go ahead this year after all.
Chief executive officer Andy Calitz said today in Vancouver that the company was committed to starting construction on the 40-billion dollar export project this year.
[PHOTO: Rendering of proposed Kitimat terminal -- LNG CANADA]
Royal Dutch Shell and its international partners -- PetroChina, Mitsubishi Corporation and Korea Gas -- delayed a final investment decision two years ago, due to sagging oil prices and an unfavourable supply-demand outlook.
But Reuters News Agency reports that Calitz [pictured at right] told an LNG conference today that while it didn't make sense in July of 2016, the project's stakeholders vowed to be in construction in 2018, and he said "I reaffirm that commitment today."
He said a final investment decision is still expected to be made this year.
He also told reporters that a trade dispute over imported fabricated industrial steel components was no longer an issue and would not impact an investment decision -- but he didn't elaborate.