The decision to cancel the development boiled down to simple economics, the Malaysian energy giant says.
Will maintain production in the Montney region, move toward final investment decision on Kitimat LNG decision.
First in BC to approve the co-management of the development of a LNG facility.
Agreements are tied to the project proceeding, include the transfer of about 3,000 hectares of land and almost $145 million.
$1.6-billion development expected to create 650 jobs during construction, 100 operational jobs.
Two First Nations and an environmental group have filed separate applications for judicial review on Oct. 27.
Long term expansion is expected, but developing opportunities will require investment.
The federal government has given the $36 billion Pacific NorthWest LNG project conditional approval.
Partners will explore pipeline development and open new overseas markets for natural gas.
Briefing note from labour ministry suggests Canadians will be first in line for LNG jobs.
LNG would reduce carbon emissions in parts of Asia, but would likely increase them in other potential markets.
LNG Canada put the brakes on its Kitimat project because of weak global prices.
Partners blames drop in natural gas prices for the delay, which it says has made the project too expensive for now.
Despite drop in exports, study notes Canada could still be a net exporter of natural gas 20 years from now.
Deal expected to close in Q3.