Malaysia’s Petronas halts western Canadian LNG project

Malaysia's state-owned energy company Petronas will not proceed with a proposed C$36 billion ($28.78 billion) liquefied natural gas (LNG) project in western Canada because of depressed prices and industry shifts, the company said on Tuesday.

Petronas and partners will continue to develop natural gas assets in Canada, Anuar Taib, the chairman of the board of Pacific NorthWest LNG, which is majority-owned by Petronas, said in a statement.

(Reporting by Nia Williams, editing by G Crosse)