Newtimes Energy LTD. Enters BC`s LNG GAME, Proposing a 100 percent foreign built Floating facility(Updated)

Another LNG entrant has arrived on British Columbia`s shoreline...

NewTimes Energy LTD has filed for an export license to ship LNG from British Columbia..

This particular project has no need to acquire a big land site for their proposal.

The company only needs a natural gas line from northeast British Columbia to the coast..

Why you ask this company does not require land?

This project won`t require anything from British Columbia except the natural gas  to liquefy..

This facility will be built in South Korea and be barged to British Columbia where it will then be hooked up to a natural gas pipeline...Confused?...Don`t be, this will be a floating LNG facility, thus it will require almost no British Columbia workers to build, all it needs is a secure mooring location in British Columbia, barge the facility to British Columbia and hook it up to the pipeline..

This unfortunately is the reality of Christy Clark`s LNG fantasy, no jobs, no revenue, no nothing except cheap(free gas)gas delivered to foreign entities. ....Oh, and this company too wants to write-off the entire build cost against taxes, this company wants the BC Government and the federal Government to allow accelerated facility tax write-offs...

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 (Updated here/February 14th/2015)

Companies building LNG export terminals in Canada could be looking at new tax breaks. 

According to Reuters, the government of Canada is looking into the possibility of providing new tax brakes, which could help companies progress stalled developments in the country despite cutting costs due to the oil plunge.

Global heavy hitters like Petronas, Chevron or Royal Dutch Shell have all proposed projects in Canada’s province of British Columbia and noted that costs of these developments are rather high.
In order to speed up development, the Canadian Association of Petroleum Producers urged Ottawa to change the current classification of LNG facilities.

 It proposed the LNG export plants to be classified as manufacturing assets which would allow them to write off 30 to 50% of their capital investment per year. Currently, LNG export plants can write off 8% of capital investment.

CAPP’s proposal has been examined by the Natural Resource department’s energy sector, but it is not certain that the proposal would be accepted this time, as it was already rejected twice before.

 http://www.lngworldnews.com/possible-new-lng-tax-breaks-in-canadas-federal-budget/

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 (And updated here)
 

NewTimes Energy filed an application with the Canadian National Energy Board seeking authorization to export LNG. 

The company wrote a letter asking a 25-year export permit for up to 300 million metric tons of LNG or 12 million metric tons of LNG annually.

NewTimes Energy proposes to build an LNG export facility with an annual output capacity of up to 19 million metric tons of LNG near the port of Prince Rupert, with the production expected to occur in 2019.

Due to the ongoing discussions and negotiations with a number of investors, gas suppliers, LNG buyers, pipeline transmission companies, technology providers, land owners, builders and shippers, the particular business model is yet to be finalized.

But the company said in its application that it anticipates that between various FLNG based projects, 

http://www.lngworldnews.com/newtimes-energy-files-for-export-application-with-neb/

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This proposed NewTimes Energy LTD proposed project is a real special deal....

The entire facility will be built in a foreign country, that being South Korea...

This project will need a paltry construction crew of mere dozens for a short period of time to build a secure mooring location..

Once in operation this company will employ roughly 80 to 100 full-time positions.

You can read some of the scant details here.

http://www.alaskahighwaynews.ca/news/lng/amid-falling-energy-prices-newtimes-energy-ltd-joins-lng-in-b-c-race-1.1759716

http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/vancouver-based-newtimes-energy-latest-entrant-into-crowded-lng-field/article22932594/

None of this is new to regular readers of The Straight Goods...

Petronas`s proposed $11.8 billion dollar BC LNG project....Petronas admitted that $9 billion dollars worth of their project cost would be outsourced to foreign countries, to cheaper jurisdictions..

You can read the nasty details here about Petronas`s outsourcing plans.

 http://powellriverpersuader.blogspot.ca/2015/02/petronas-goes-to-ottawa-to-beg-for-tax.html

Petronas wants engineering work for B.C. LNG venture to be shifted offshore

BRENT JANG

VANCOUVER — The Globe and Mail

Published Thursday, Dec. 04 2014, 5:49 PM EST
Last updated Thursday, Dec. 04 2014, 6:11 PM EST

Petronas plans to push contractors to shift more engineering work for a proposed B.C. liquefied natural gas venture to lower-cost centres offshore as the Malaysian energy giant squeezes suppliers.

Of the total $11.4-billion in estimated construction costs for the Petronas-led Pacific NorthWest LNG export terminal at Lelu Island, there would be $8-billion worth of imported goods and services spread over a five-year period.

 It is in that international component where Petronas hopes to find the bulk of cost savings, but the state-owned company will cast a wide net abroad and in Canada, including having TransCanada Corp. re-examine ways to make its proposed $5-billion natural gas pipeline project more efficient.

 http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/petronas-pushes-offshore-work-for-british-columbia-lng-venture/article21960284/

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So....Christy Clark and Rich Coleman`s LNG bullshit about 100,000 LNG jobs have been reduced to workers placing a pipeline from Northeast British Columbia to the coast...That`s it, and a mere handful of LNG plant workers..

Fabrication and assembly of mainframes will occur in South Korea and barged to British Columbia.

Well done Christy Clark...By allowing Petronas and other LNG proponents to bring in foreign workers to assist with construction, by applauding Petronas`s plans of outsourcing all the fabrication of plants overseas you have set the table for all LNG proponents to do the same..

 http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/petronas-to-hire-hundreds-of-skilled-foreign-workers-for-bc-lng-project/article22016165/

You are indeed the face of leadership and good stewardship of the BC Economy Christy Clark..

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In November, B.C. announced a 3.5% tax on liquefied natural gas exports once capital costs are recovered amid mixed reaction from industry proponents.

“With Petronas we have done what we possibly can to make the deal work. We have agreed on the elements at our end. Now they have to go out and get a better price from their suppliers,” Ms. Clark said.


B.C. would also look at ways to accommodate other proponents considering exporting liquefied natural gas from the West Coast, but the province will not revise its tax regime, the premier said.
“With each company we are negotiating a separate project development agreement that recognizes each project has it unique features,” she said, adding that they are not concessions.

“It is called designing the agreements that are unique under the broad tax framework. We are not going to fiddle with the broad tax framework, we have been really clear on that to all the proponents.”

 http://www.nationalpost.com/Premier+Christy+Clark+confident+Petronas+decision+2015/10453106/story.html

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 http://powellriverpersuader.blogspot.ca/2014/11/lng-plants-will-not-be-built-in-british.html

http://powellriverpersuader.blogspot.ca/2013/05/british-columbias-lng-facilities-to-be.html

This site, The Straight Goods has been reporting on this LNG scam and how all the facilities and fabrication will occur in other countries for the last 2 years, and these $billions of dollars spent in foreign countries to be written off against Canadian taxes and royalties..

Unfortunately BC`s mainstream media have been nothing but industry and BC Liberal Government echo chambers..

 With friends like you and your Government Christy Clark ....Who needs enemies!

The Straight Goods

Cheers Eyes Wide Open

applied

Despite plunging energy prices, proponents continue to pop up in the race to export British Columbia's natural gas.
NewTimes Energy Ltd. applied to the natural energy board (NEB) for a 25-year license to export up to 12 million metric tonnes of LNG annually.
NewTimes Energy is proposing to build a floating facility, located near Prince Rupert, according to the license application filed Feb. 11. The facility will consist of up to three LNG trains.
The proposed project “is expected to occur in 2019,” according to the filing in three stages: 4 MMt in 2019, 8 MMt in 2020 and 12 MMt in 2021.
As far as LNG projects in B.C. go, this would be mid-scale. Other range 30 MMt (WCC LNG) to 1.8 MMt (Douglas Channel LNG).
​NewTimes is still in working through upstream, mistream and downstream aspects of the project, and is currently in talks with investors, gas suppliers, offtakers, and pipeline companies.
“The applicant is currently in discussions and negotiations with a view to reaching agreement with a number of invertors, gas suppliers, LNG purchasers, pipeline transmission companies, technology providers, land owners, terminal builders and shippers, which are top tier enterprises in their respective industries,” according to the filing. “The particular business models have yet to be finalized.”
- See more at: http://www.alaskahighwaynews.ca/news/lng/amid-falling-energy-prices-newtimes-energy-ltd-joins-lng-in-b-c-race-1.1759716#sthash.4dzahhc5.dpuf

Despite plunging energy prices, proponents continue to pop up in the race to export British Columbia's natural gas.
NewTimes Energy Ltd. applied to the natural energy board (NEB) for a 25-year license to export up to 12 million metric tonnes of LNG annually.
NewTimes Energy is proposing to build a floating facility, located near Prince Rupert, according to the license application filed Feb. 11. The facility will consist of up to three LNG trains.
The proposed project “is expected to occur in 2019,” according to the filing in three stages: 4 MMt in 2019, 8 MMt in 2020 and 12 MMt in 2021.
As far as LNG projects in B.C. go, this would be mid-scale. Other range 30 MMt (WCC LNG) to 1.8 MMt (Douglas Channel LNG).
​NewTimes is still in working through upstream, mistream and downstream aspects of the project, and is currently in talks with investors, gas suppliers, offtakers, and pipeline companies.
“The applicant is currently in discussions and negotiations with a view to reaching agreement with a number of invertors, gas suppliers, LNG purchasers, pipeline transmission companies, technology providers, land owners, terminal builders and shippers, which are top tier enterprises in their respective industries,” according to the filing. “The particular business models have yet to be finalized.”
- See more at: http://www.alaskahighwaynews.ca/news/lng/amid-falling-energy-prices-newtimes-energy-ltd-joins-lng-in-b-c-race-1.1759716#sthash.4dzahhc5.dpuf