- British Columbia must avoid Australia’s policy missteps if it wants to establish itself as a source of liquefied natural gas for Asia, says Shamsul Azhar Abbas, the head of Malaysian national oil and gas company Petronas.
- Australia introduced “severe fiscal and regulatory policies” that added to the cost of doing business and negatively affected project economics there, Shamsul says; "as a result, the anticipated second wave of investors shied away, and even current investors are scrutinizing project viability."
- Chevron (CVX) and BG Group (BRGYY, BRGXF) are among energy companies that have been hit by cost overruns at their Australian LNG projects.
- The Petronas-led C$36B Pacific Northwest LNG project won an export permit from federal regulators in December and is considered a front-runner from among a dozen gas export terminals proposed for Canada's Pacific coast; Shell-led (RDS.A, RDS.B) also appears to be in a lead position.
- B.C. Premier Christy Clark says she is optimistic "one or two" LNG plants would be approved this year, including the Petronas-led project.