Malaysia eyes Canada for $37bn LNG play

MALAYSIA has highlighted the risks to the growth of Australia's liquefied natural gas industry by declaring its intention to push ahead with a $C36 billion ($37bn) plan to build an LNG plant in Canada. State-owned energy company Petronas, one of the founding partners of the Santos-led Gladstone LNG plant, could spend the vast amount over 30 years at a terminal earmarked for development in Prince Rupert, British Columbia, Malaysian Prime Minister Najib Razak said yesterday. The comments reflect the shift in global LNG development away from Australia, where high costs are discouraging new investment. They also...