January 28, 2021 - 3:21 PM
CALGARY - The president and group CEO of oil giant Petronas says the LNG Canada liquefied natural gas export facility now under construction in B.C. helps support his company's recently set goal of having net zero greenhouse gas emissions by 2050.
But Tengu Muhammad Taufik, speaking during a University of Calgary-sponsored webinar, also warns that delays in completing the project could result in Canada missing out on sales of its abundant natural gas to foreign markets hungry for cleaner fuel to replace coal and nuclear power.
The head of Malaysian government-owned Petronas says it made its emissions reduction commitment in November not to "keep up with the Joneses," but under pressure from lenders who increasingly want to know about clients' clean energy plans before giving access to needed capital.