Canadian LNG industry receives another blow as Aurora LNG backs out of plant

By zaymalz malz

Canada’s hopes of a nurturing its potential for a prospering Liquefied Natural Gas (LNG) industry has seen another setback, as Aurora LNG has announced it is backing out of a plan with Calgary-based Nexen to build a plant in northwest British Columbia (BC).

It is understood that Aurora LNG do not feel confident in the strength of the regional economy to follow through with the plan.

"Aurora LNG has determined that the current macro-economic environment does not currently support the partners' vision of developing a large LNG business," the release read.

See also:

The $20bn project that has now fallen through would have seen the site constructed on Digby Island eventually shipping 24mn tonnes of LNG from BC to Asia annually once completed.

“We are disappointed in this outcome, Aurora LNG is proud of its work in northwest British Columbia over the past three years and the relationships it has built with local community members, indigenous groups, stakeholders and government,” it continued.

The news comes in the wake of a number of knocks taken by the industry in Canada this year, including Petronas pulling the plug on its $36bn project in July.

Share

Featured Articles

Top 10 must-read sustainable leadership books for CEOs

As former Unilever boss Paul Polman debuts his new net zero book, we ask – can profit and purpose truly exist? Here are 10 business books to prove they can

Top 20 essential leadership resources for Black executives

To celebrate Black History Month, here are 20 resources for Black leaders – from business books to leadership coaches to business school exec programs

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

Leadership & Strategy

Why your business needs a Chief Transformation Officer

Leadership & Strategy

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI