March 5, 2020 / 8:37 PM / a month ago

Berkshire Hathaway to not invest C$4 billion in Saguenay LNG project: CBC

(Reuters) - Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) has decided not to invest C$4 billion in a liquefied natural gas (LNG) plant by the Saguenay port, CBC News reported on Thursday, citing Radio-Canada.

The marine terminal to ship LNG to overseas markets is expected to be built roughly 230 km northeast of Quebec City, at a cost of C$9.5 billion ($7.08 billion), according to the report.

GNL Québec, the company behind the project, confirmed it had lost a significant potential investor, but did not say who it was, CBC News reported.

Berkshire Hathaway did not immediately respond to a Reuters request for comment.

Reporting by Arundhati Sarkar in Bengaluru; Editing by Shounak Dasgupta

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