"During the quarter FortisBC and Hazer progressed the Project Development Agreement and conducted commercial discussions following which the parties agreed in principle, subject to formal legal documentation, that FortisBC will be the project lead developer and sole operator of the facility, and Hazer adopting the role of technology license provider. This is a significantly positive improvement from the previous joint operatorship arrangement as it aligns with Hazer’s ‘capex lite’ business model drastically reducing capital expenditure exposure for Hazer at the project level."
Good!
Ann: Appendix 4C - quarterly, page-5
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