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Shell says approves huge gas project in Canada

AFP  |  London 

Energy Shell said Tuesday it had approved a vast liquified project in to help meet an expected boom in Asian demand.

The London-listed company said in a statement that its Energy division had given the green light to its investment in the joint venture project in

Shell, which has a 40-per cent working interest, added that funding would come from its capital investment guidance of US$25-30 billion per year.

"We believe LNG is the right project, in the right place, at the right time," said Shell Chief

"Supplying over the coming decades will be critical as the world transitions to a

"Global LNG demand is expected to double by 2035 compared with today, with much of this growth coming from where gas displaces coal."

The other companies in the Kitimat joint venture comprise Petronas, PetroChina, Mitsubishi Corporation, and

The project has a 40-year export license and all environmental permits are in place for both the plant and the pipeline, according to Shell.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 02 2018. 20:35 IST