RE: defunct Yes they have the approvals , but they mean nothing if the government imposes enough royalties and taxes so theres no , or very limited profit in the enterprise . So far there are only 2 LNG proposals that have all the approvals required . One is a small company owned by the natives which will use the existing capacity in the PNG pipeline ( owned by Alta gas ) . Supposedly a floating LNG plant is being constructed someplace . The other is Kitimat LNG , now Apache and Chevron backed . EOG and EnCana bailed on this " no brainer "
The others , Shell , Petronas , whoever all face a long period of placating environmentalists , forestry , fisheries , natives , federal goverment , provincial government to get their approvals . Eventually there will be LNG exports , theres hundreds of years supply . Apache and Chevron will keep the project alive , but they won't fully commit until they know whats happening with the provincial government . The election is in May and it will take a least a year determine if the new government will be reasonable with royalties , windfall taxes and fracking .
Last June Apache EOG and Encana deferred the project for one year , at that time they were still looking for another partner to take 20 % of the project and having a hard time finding one . Now with Chevron it looks more viable , but they aren't going to be stupid about it .
regards
G