Apache (APA -2%) is delaying its proposed $3B Kitimat project, as rivals have undercut APA's...

|About: Apache Corporation (APA)|By:, SA News Editor

Apache (APA -2%) is delaying its proposed $3B Kitimat project, as rivals have undercut APA's ability to sign customers to long-term supply contracts and left Kitimat without enough clients to begin construction. Cheniere Energy (LNG) has offered liquefied natural gas at prices based on the cheaper Henry Hub benchmark, spurring potential APA buyers to drive a harder bargain, analysts say.