A model shows the proposed liquefied natural gas liquefaction plant and marine terminal in Kitimat, C. Natural gas development. THE CANADIAN PRESS / Robin Rowland
A coalition of First Nations in British Columbia says it is disappointed to learn that a second major investor is seeking to sell its shares in the development of Kitimat Liquefied Natural Gas.
Woodside Petroleum Ltd., an Australian company, has announced its intention to sell its 50% interest in the 480-kilometer Pacific Trail pipeline and proposed LNG facility at Bish Cove.
The First Nations Limited Partnership, which represents 16 First Nations in northern British Columbia, says the decision to sell is both disappointing and threatens the business interests of its members.
Woodside’s announcement comes after Chevron Canada Ltd., the operator of the project, said earlier this year that it would stop funding further feasibility work on the project.
The company put its interests up for sale in December 2019, but failed to find a buyer.
Mark Podlasly, chairman of the partnership, said he believes the energy project has national benefits and the latest news is hurting members of the group.
“We are incredibly disappointed with this setback. The (First Nations Limited Partnership) stands ready to support the right buyers who will treat us as a true partner and recognize the unique value we can bring to the table, ”he said.
Woodside says he will retain a position in the gas resource upstream of the Liard Basin.
He did not immediately return a request for comment on the partnership’s statements.
At one time, around 20 LNG terminals were proposed for the west coast, but the $ 40 billion LNG Canada project led by Shell Canada is the only one to reach the construction stage.
Woodside interim CEO Meg O’Neill said the decision to sell would allow the company to focus on higher-value opportunities in Australia and Senegal.