Petronas LNG has "upside down" economics: This week's best quotes

“This [PETRONAS LNG project] is an important part of a new industry for British Columbia and for Canada, and with it comes new opportunities and new economic benefits.”

--Canadian Natural Resources Minister Jim Carr, announcing regulatory approval for the Pacific NorthWest LNG project.

“This [LNG] project was subject to a rigorous environmental assessment made significantly stronger by our government’s new interim principles for environmental assessment.”

--Canadian Environment Minister Catherine McKenna.

“I think a FID will be delayed [on the PETRONAS LNG project]. It’s just pretty hard to sanction that kind of spend when the economics are upside down.”

--Ed Kallio, an associate with Gas Processing Management.

“Many people take a cursory look at the production in Canada and conclude that the basin won’t be able to compete. While many studies project Canadian production staying flat, the actual makeup of the gas in Western Canada is changing rapidly.”

-- Darren Marine, senior vice-president of business joint ventures with Veresen.

“From a government perspective, what we need is clarity on what is in the national interest of our nation.”

-- Paul Anderson, executive vice-president, Canada country manager for RPS Energy Canada, discussing uncertainty for major project approvals.

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