Petronas CANADIAN SACRIFICE?
The RAPID setback means Petronas now faces questions over two of its biggest projects.
It is in the middle of making a final investment decision on a $27 billion liquefied natural gas project in Canada that has faced several delays due to environmental concerns.
The state-run company is also wrestling with lower profit and cash flow. In early 2016, Petronas said it would cut spending by up to 50 billion ringgit ($11.27 billion) over the next four years.
With the questions hanging over RAPID, Petronas may be forced to re-think the Canada project.
"RAPID will still come online, it's just there is a greater financial burden on Petronas now," said Peter Lee, an oil and gas analyst at BMI Research. "If anything were to give way or be delayed further, I would think it is the Canada project first."