By Rachel Adams-Heard and Ryan Collins: 1 October 2018, 19:11 BST: Updated on 1 October 2018, 22:42 BST
- The company said to reach final investment decision on terminal
- U.S. competition has pummeled Western Canadian gas prices
An export terminal on Canada’s west coast may eventually rescue one of the cheapest markets for natural gas in North America — so cheap that sometimes the fuel price falls below zero.
Royal Dutch Shell Plc and its four partners have agreed to invest in the $31 billion LNG Canada project, according to people familiar with the matter. The decision to build the export terminal provides a much-needed outlet for gas in a region battered by competition from U.S. drillers, which has created bottlenecks so severe that prices can occasionally go negative.