Petronas says remains committed to Canadian LNG project

Fitch expects Petronas to pay a lower dividend of RM16bil in 2016, down from RM26bil in 2015 and RM29bil in 2014.

The project would see Petronas build an export terminal near the British Columbia port city of Prince Rupert, a natural gas pipeline and ongoing gas development. Petronas had reached a deal with British Columbia in May on the proposed project, drawing it closer to its final investment decision.

"Petronas would like to reaffirm its commitment to deliver long term LNG supply to its customers through the Pacific NorthWest LNG project in Canada, despite the current market volatility for oil and gas," its chief executive officer for Upstream, Wee Yiaw Hin, said in an emailed statement.