Japanese partners Inpex and JGC have recognised an impairment loss of a combined 84.5 billion yen (US$802 million) on their Canadian shale gas project in British Columbia.
Inpex said an impairment test was done on the shale project “in light of the decline in forecast natural gas prices in the Americas”. The recoverable amount of the assets was expected to fall below their carrying amount, so Inpex posted an impairment loss of 76 billion yen.
