The cost to engineer, procure and construct the LNG Canada project makes up a significant part of a Final Investment Decision. With a Final Investment Decision for the LNG Canada project delayed due to global LNG industry market challenges and uncertainty, it provided us with the opportunity to return to market in an effort to ensure the project remains cost competitive and affordable.
Going back to market allows us to identify a single Engineering, Procurement and Construction Contractor that will deliver the project on a lump sum basis, reduce the project risk for our Joint Venture Participants, bring more certainty to the costs, and deliver the best outcome from a schedule basis and lowest capital expenditure.
At the end of January 2017, LNG Canada issued a Request for Proposal for the entire main plant engineering, procurement and construction scope. Given the complexity of our project, it will take some time for contractors to work through their plans and numbers, and submit their proposals to LNG Canada. It will also take some time for us to review the proposals and identify a preferred contractor. We are expecting to identify a new construction contractor following a Final Investment Decision.