Royal Dutch Shell has approved the development of a $31bn (£24bn) liquid natural gas (LNG) project in Canada that could signal the return of energy mega-projects around the globe. The oil major will invest $12bn in the long-awaited project, in which it has a 40pc stake. LNG Canada was once dismissed by analysts as a risk too great even for the industry’s biggest players but Shell has spent the last six years carefully honing the project’s eye-watering costs.
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