The facility, which would produce LNG for export to Asian markets, would be owned by the Haisla, making it the largest Indigenous-owned infrastructure project in the country.
The project partners had previously said a decision to go ahead could be made before the end of the first quarter, with onshore construction work starting as soon as the second quarter of this year.
But Pembina CEO
"There’s just a lot of different agreements that have to be put in place. And so we’re continuing to progress detailed negotiations," Burrows said.
"But a lot of it is just due to time and the inter-dependency of so many different agreements on this project.”
The
Cedar LNG has already obtained all major regulatory approvals and is advancing an agreement that would connect the floating facility to Coastal GasLink, the
LNG Canada will be this country's first liquefied natural gas export terminal, and its construction near
Another smaller LNG facility, Woodfibre LNG, has also received regulatory approval for construction near
The capital cost of Cedar LNG was originally estimated at
“When we bought into that project, we announced the capital cost in the mid-$2-billion range,
"Obviously the world has changed since then. And I think we all recognize that it’s going to be higher than that. That said, you know, when we look at Cedar from a global competitiveness standpoint, we see that it continues to stack up very well."
As of
In a note to clients,
"Although we await additional details on the Cedar LNG project, we like the decision to defer the final investment decision until mid-2024, which demonstrates to us that the company is taking a methodical approach to managing project economics and especially project risk," Kwan wrote.
Proponents of a Canadian LNG industry say liquefied natural gas from
But environmentalists argue that LNG creates its own emissions through the liquefaction and transportation process, as well as through the drilling and flaring of natural gas in
They argue that building massive LNG terminals that require huge up-front capital investments essentially "locks in" future greenhouse gas emissions at a time when the world needs to be planning for a lower-carbon future.
While
But last month,
This report by The Canadian Press was first published
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