Indian Oil Corp Ltd said it is in talks with its partners to scout for an alternative, cheaper site for the Pacific Northwest LNG terminal after the recent pullout of the lead developer cast doubt on the future of the Canadian project.
Malaysia’s state-owned Petroliam Nasional Bhd (Petronas), which held a majority 62 percent stake in the proposed C$36 billion ($29 billion) Pacific NorthWest LNG Project in British Columbia, said last week it was abandoning the plan due to weak global prices.
Sanjiv Singh, chairman of Indian Oil, which has a 10 percent stake in the Canadian project, said the company remained interest in going ahead with at least part of the plan. Read More…
Credit By: Vccircle
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