The BC Business Council says the provincial government’s LNG dreams is getting hammered thanks to the slumping energy prices.
BC Business Council Vice-President and Chief Economist Ken Peacock says the Premier’s LNG promises now have some question marks.
“There is a big question mark on that because LNG prices have come down. They are linked to oil prices and so obviously with the precipitous decline in oil prices it is a little bit of a question mark as to when we will see, and perhaps if we will see, a major LNG project proceed in the province. I think we probably will at some point but timeline at a minimum will be pushed back.”
Natural Gas minister Rich Coleman has said recently he has one final investment decision on an LNG facility with three more possibly coming this year.
The Asian spot price for LNG tumbled to its lowest levels since 2010 and have fallen by more than half over the last year.