Japex takes financial hit following PNG LNG scrapping

By LNG World News Japan Petroleum Exploration (Japex) will take a $82 million hit following the scrapping of the Pacific NorthWest LNG project in British Columbia, Canada.
Japex’s losses include the extraordinary loss of termination of approximately 900-km pipeline construction plan estimated at approximately $52.2 million and the non-operating expense as the equity method investment loss of PNW LNG estimated at approximately$29.7 million.
The company participated in the Pacific NorthWest LNG project since 2013 for the purpose of producing LNG from its shale gas reserves in North Montney in British Columbia, Canada, in order to secure long-term supply of LNG to the domestic market through

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