- The Petronas-led group planning a liquefied natural gas export terminal on Canada’s Pacific coast is offering C$1.15B ($950M) over 40 years to one First Nations community to approve the project.
- Pacific NorthWest LNG is offering the payments to the Lax Kw’alaams First Nation so it can build the unit on traditional lands at the port of Prince Rupert in British Columbia.
- The facility is part of a C$36B plan by Petronas to ship gas reserves from Canada’s westernmost province by tanker to growing energy markets in Asia.
- The project is one of 19 LNG developments proposed for B.C., including from heavyweight players Shell (RDS.A, RDS.B), Chevron (NYSE:CVX) and Exxon (NYSE:XOM).