Eco-activists Didn't Force out Apache, a Foreign Hedge Fund Did
From www.thetyee.ca |Published August, 6th 2014
By Andrea Rexer
Investing in oil and gas is a long-term engagement. Usually. But not for Apache. The U.S. company announced last week that it would pull out from B.C.‘s second largest LNG project. The Kitimat project was a joint venture with Chevron and now its future is uncertain. Though Chevron has said it wants to find another partner, some analysts predict Apache’s exit will end the project.
That’s bad news for politicians who spoke up for the project like Premier Christy Clark and Kitimat Mayor Joanne Monaghan. Kitimat was not only the second largest LNG project in B.C., it was also the one furthest along: it already had approval to export… read more>