Warren Buffett's company bails on Saguenay LNG project because of 'Canadian political context,' promoter says

Warren Buffett's investment company Berkshire Hathaway has decided not to invest $4 billion in a liquefied natural gas (LNG) plant by the Saguenay port. The marine terminal to ship LNG to overseas markets is slated to be built roughly 230 kilometres northeast of Quebec City, at a cost of $9.5 billion. The decision by Berkshire Hathaway, which represents a major blow to the project, was first reported by La Presse Thursday and later confirmed by Radio-Canada.-- More...