Hanwha Ocean signs nonbinding MOU to advance Kanata floating LNG export project in British Columbia

South Korea’s Hanwha Ocean has signed a nonbinding memorandum of understanding with Vancouver-based Kanata Clean Power & Climate Technologies to support the proposed Kanata LNG floating export project near Prince Rupert, British Columbia. Kanata estimates the project’s capital cost at about US$15.7billion and targets exports of up to 12 million tonnes a year of liquefied natural gas to Asia. The project remains subject to regulatory approvals, including environmental reviews, and no final investment decision has been made.