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Exxon puts British Columbia LNG export project on hold

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Exxon puts British Columbia LNG export project on hold

Exxon Mobil Corp. effectively shelved its WCC liquefied natural gas export project in Prince Rupert, British Columbia, which was expected to produce roughly 15 million tonnes of LNG per year.

Exxon Mobil Canada Ltd. and the roughly 70% Exxon-owned Imperial Oil Ltd. withdrew the project from a British Columbia environmental assessment process, according to a notice on the project's website. The environmental review is needed by large projects before development begins.

Exxon earlier this year started slowing down development on the export project and still has not set a timeline for a final investment decision. The two companies in April also put gas-producing acreage and associated gathering assets in the province's Horn River basin for sale.