CALGARY — Chevron Canada Ltd. says it will stop funding further feasibility work on its proposed Kitimat LNG project on B.C.’s north cost.
The company holds a 50 per cent stake in the project in a joint venture with Australia’s Woodside Petroleum Ltd.
Chevron, which is the project operator, put its interest up for sale in December 2019, but has failed to find a buyer.
When the company put its stake up for sale, Chevron said it would continue to work with Woodside on agreed project activities that brought value or were required for regulatory and operational compliance.
But in a statement on its website this week, Chevron says that it now plans to stop Chevron-funded further feasibility work.
The project includes upstream resource assets in the Liard and Horn River Basins in northeast B.C., the proposed 471-km Pacific Trail Pipeline and plans for a natural gas liquefaction facility at Bish Cove near Kitimat, B.C.
This report by The Canadian Press was first published March 19, 2021.
The Canadian Press