EOG Resources has cast fresh doubts over the future of the Kitimat LNG export project planned for British Columbia, Canada, where it is a shareholder.
Chief executive Mark Papa has told investors not to “buy EOG on the basis of Kitimat because it’s still kind of a long putt on there”.
“We’re really not tooting the horn of Kitimat until we see… something a lot more firm than we’ve seen so far,” he said.
The project will not go anywhere until the development consortium gets an oil-indexed contract with a Far Eastern buyer to swallow up the majority of the off-take.
“That has certainly gone slower than any of us expected and I wouldn’t even hazard a guess as to the timeframe (for...
