04 December 2012 16:05 [Source: ICIS news]
PETRONAS and Progress said the project was advancing to its pre front-end engineering design (Pre-FEED) phase, following successful completion of a detailed feasibility study. The companies had announced plans for their Pacific Northwest LNG project last year.
If realised, the facility will be built on
The project’s LNG throughput is currently designed for about 3.8m tonnes/year of LNG. It will include two liquefaction plants, with the possible addition of a third plant at a later stage.
If Pacific Northwest LNG proceeds, the estimated investment sum is expected to be up to $11bn (€8.5bn), depending on the final project scope. A final investment decision is expected by late 2014, with LNG exports to begin in 2018.
However, the companies added that the project’s final throughput capacity and investment sum will depend on the Canadian government's approval of the planned takeover of Progress by PETRONAS.
($1 = €0.77)
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