Two new liquefied natural gas facilities will be built in northwestern B.C. in the next two years by Malaysia's national oil company, Petronas, which announced Tuesday that it will spend up to $16 billion on the projects.
Petronas said it will invest between $9 billion and $11 billion to construct the LNG liquefaction plants, which will be built on Lelu Island, off the coast of B.C. in the Port Edward district south of Prince Rupert.
Another $5 billion will be invested in a 750 kilometre-long pipeline, to be built by TransCanada Corp., that will supply gas to the two plants, Arif Mahmood, Petronas vice-president of corporate planning, said in an email to The Associated Press.
The announcement comes just weeks after the Liberal government was returned to power in B.C., with LNG development a major focus of Premier Christy Clark's campaign.
Petronas to spend up to $16B on B.C. LNG project
