North Montney Shale Gas and Pacific Northwest LNG
First written in FY2016. 3 of 9 entries say "Restated". Latest entry: FY2022-Q1.
No other company in this theme has enough history to compare yet.
- FY2022-Q1AchievedAnnual report
「JAPEX Montney Ltd. (JML), a consolidated subsidiary of the Company, completed on 5 July 2021 the transfer of all of its 10% interest in the shale gas concession in the North Montney region of British Columbia, Canada, and related assets to Petronas Energy Canada Ltd. (headquartered in Alberta, Canada), the operator of the concession.」
The transfer to Petronas of all of the 10% interest in North Montney and related assets was completed on 5 July 2021, ending the basis for continued ownership and participation. - FY2021DroppedAnnual report
「JML entered into a purchase and sale agreement to transfer all of its interests in the concession and related assets to Petronas Energy Canada Ltd., the operator of the concession.」
For the North Montney shale gas upstream business, which continued after the PNW business was discontinued, JML entered into an agreement to transfer all of its interests and related assets, moving toward the loss of the basis for continued ownership and participation. - FY2018-Q3RestatedAnnual report
「Pacific NorthWest LNG (the PNW business), an LNG project in British Columbia, Canada, that the Company had been considering through its overseas consolidated subsidiary JAPEX Montney Ltd. (JML), was discontinued after Pacific NorthWest LNG (PNWL), the project company, decided on 25 July 2017 (Vancouver local time) not to proceed with commercialization.」
The Company continued to disclose the discontinuation of the PNW business while reconfirming that the upstream business would continue under a separate plan. - FY2018-Q2RestatedAnnual report
「Pacific NorthWest LNG, the project company, decided on 25 July 2017 (Vancouver local time) not to proceed with the LNG project, definitively rendering this agreement void. The upstream business will continue, with the aim of maximizing its value.」
The Company reconfirmed that the PNW business and the LNG offtake agreement for the equivalent of 1.2 million tonnes per year had been definitively terminated, while stating that the shale gas upstream business would continue. - FY2018-Q1DroppedAnnual report
「Pacific NorthWest LNG, the project company, decided on 25 July 2017 (Vancouver local time) not to proceed with the LNG project, definitively rendering this agreement void. The shale gas development and production project in the upstream business being pursued by JML is producing approximately 500 million cubic feet per day, equivalent to approximately 90,000 barrels of oil per day.」
The commercialization of Pacific NorthWest LNG and the LNG offtake agreement for the equivalent of 1.2 million tonnes per year were definitively terminated. The shale gas upstream business, however, continues. - FY2017SoftenedAnnual report
「The Company is considering all options, including cost reductions, to enhance competitiveness while assessing the business environment. The planned investment amount for this business has not yet been calculated and is scheduled to be determined in the future.」
For Pacific Northwest LNG, the Company stated that it was considering options and cost reductions while assessing the business environment even after approval of the environmental impact assessment, and that the planned investment amount had not yet been calculated. - FY2017-Q3RestatedAnnual report
「In addition, the scheduled completion of the wells, production facilities and other assets for the shale gas development and production project of JAPEX Montney Ltd. in British Columbia, Canada, originally scheduled for 2020, was changed to 2022 following a review of the project schedule.」
The schedule change setting the scheduled completion year for the shale gas development and production project at 2022 continues to be disclosed. - FY2017-Q2SoftenedAnnual report
「Following a review of the project schedule, the scheduled completion year was changed to 2022.」
The scheduled completion of the wells, production facilities and other assets of JAPEX Montney was postponed from 2020, before the review, to 2022. - FY2016First statedAnnual report
「As a result, the Company acquired the right to take delivery of LNG equivalent to its participation ratio, approximately 1.2 million tonnes per year.」
The disclosed structure links shale gas development and production with the LNG project and provides an offtake right for approximately 1.2 million tonnes per year.