Exxon eyes cheaper, floating LNG option for B.C. export project

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (NYSE:XOM) and Imperial Oil (NYSEMKT:IMO) are assessing a site at a narrow inlet north of Prince Rupert, B.C. that could accommodate both floating and barge-based infrastructure for a liquefied natural gas export project, Financial Post reports.

The plan spotlights efforts by LNG proponents to save costs and competition for labor that analysts say threatens to hurt development of more than a dozen projects under study on the coast.

IMO says the companies are targeting a final investment decision on the export project in 2018; no capital cost has been disclosed.