Malaysian investors have had enough of the Trudeau Liberals stalling on the final decision for a British Columbia LNG project slated to begin construction in 2015 and still on hold.
So far, the National Energy Board has approved 9 of 13 LNG projects in BC that could create 100,000 jobs and result in a cumulative GDP for the province of over $1 trillion.
Malaysia’s state oil company, Petronas, has already put $12 billion into the project that involves partners from China, Japan, India and Brunei.
The Liberals have made an already difficult regulatory process even worse by adding layers to the process and stalling on decisions citing impacts on climate change, fish and wildlife and concerns of First Nations groups, and now it’s looking like these investors are ready to jump ship.
Petronas refuses to accept more road blocks from the Canadian government having already spent billions on the project with the downturn in oil prices affecting their bottom line.
It seems they too are frustrated with the Liberal government’s climate change priorities.