CORRECTED-Shell says LNG Canada project could cost up to C$40 billion

Fri Nov 7, 2014 1:02pm EST
 
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(Changes name of project to LNG Canada in headline and story)

CALGARY, Alberta Nov 7 (Reuters) - Royal Dutch Shell Plc , the lead partner in the LNG Canada project planned for British Columbia's northern coast, expects the liquefied natural gas facility to cost as much as C$40 billion ($35.2 billion) when fully complete.

Shell's cost estimate for the project was included in the environmental assessment filed with British Columbia regulators on Friday. The estimate is for when the project is fully built out, with four trains liquefying Canadian natural gas for shipment to the Asian market.

Shell has a 50 percent stake in the project, which will initially produce some 12 million tonnes of LNG per year for the Asian market and could be expanded to 24 million tonnes with four trains operating. PetroChina has a 20 percent share while Korea Gas Corp and Mitsubishi Corp each hold 15 percent. (1 US dollar = 1.1356 Canadian dollar) (Reporting by Scott Haggett)