Warren Buffett’s Berkshire Hathaway Inc. 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
