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Exxon plans to spend up to $25-billion to export BC LNG – The Globe and Mail

Jan. 12 2015

Exxon Mobil Corp. plans to spend up to $25-billion on a B.C. terminal to export liquefied natural gas, saying it has the global expertise to make the Canadian project viable.

The U.S. energy giant is positioning itself to make up ground on Malaysia’s state-owned Petronas, which is widely viewed by industry experts as the front-runner among 18 entrants in the race to export LNG from the West Coast. But Petronas decided last month to delay its decision on whether to forge ahead with its Pacific NorthWest LNG joint venture near Prince Rupert, citing the need to decrease anticipated construction costs, overcome environmental hurdles and consult further with First Nations.

Irving, Tex.-based Exxon Mobil and its Canadian unit, Imperial Oil Ltd., disclosed the strategy for the first phase of their West Coast Canada LNG project, or WCC LNG, in a 141-page report.

Read more: http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/exxon-mobil-could-spend-up-to-25-billion-to-export-bc-lng/article22406569/

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