Malaysia: Petronas scraps $29b western Canada LNG project

Malaysia: Petronas scraps $29b western Canada LNG project

The Petronas fuel station sign is seen at a petrol station outside Kuala Lumpur, Malaysia, March 1, 2016. REUTERS/Olivia Harris

Malaysian state-owned energy company Petronas will not proceed with a proposed C$36 billion ($29 billion) liquefied natural gas (LNG) project in western Canada due to weak global prices, dealing a blow to Canada’s ambitions to become a global LNG player.

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