Woodside Joins Chevron in Exiting Kitimat LNG
After multiple ownership changes and unsuccessful attempts to land overseas sales contracts since 2008, the first Canadian effort to pioneer entry into the global liquefied natural gas (LNG) trade is losing its last participant.
Australian producer Woodside Petroleum Ltd. announced Monday it would exit Kitimat LNG (KLNG) following the March decision by senior operating partner Chevron Corp. to stop funding feasibility work for the project on the northern Pacific coast of British Columbia (BC). Chevron’s offer to sell its 50% share, unveiled in December 2019, drew no responses.
“Following Chevron’s decision to exit KLNG and subsequent decision in March 2021 to cease funding further feasibility work, Woodside undertook a comprehensive review of our options for the project and our wider development portfolio,” Woodside acting CEO Meg O’Neill said.