Remember this hype, all the good people of Campbell River invited to a town hall meeting to rejoice in the announcement of good times acomin to Campbell River, LNG export plant to the rescue...
________________
Excitement builds over Campbell River LNG plant
It will be a long haul before Discovery LNG starts shipping liquid natural gas from the former Elk Falls Mill site.
But Quicksilver Resources is serious about seeing the project happen, says senior vice president and chief operating officer David Rushford.
“Obviously, we’re very serious,” Rushford said, during an interview at a community meet and greet held at the Elk Falls Mill site Monday.
Interest in the project is high amongst Campbell Riverites. People were asked to RSVP to the advertised informational event and 400 took the time to indicate they were coming. For every person that RSVPs, there’s an exponential number that plan to drop by so Quicksilver staff were prepared for up to 800 to show up.
The interest and support shown by Campbell River has impressed Quicksilver officials.
“When you try to develop these projects, one of the things you look for is a supportive community,” Rushford said. “The community is totally behind us.”
Rushford said the Elk Falls site, which it bought from Catalyst Paper in May for $8.6 million is a perfect location. It has a deepwater port, a brownfield site (mothballed industrial location) that is “beautiful” for LNG, there are multiple ways to get the gas here and there is an educated local workforce that is a legacy of the former pulp and paper operation.
“You are not going to see a better site in B.C. to do LNG than Campbell River,” Rushfrod said.
The company has leased approximately 129,000 acres in northeastern B.C. in the Horn River Basin, where Horn River Shale formations are believed to contain large quantities of recoverable deep shale natural gas. The company also holds 410,000 acres in Alberta.
The challenge for the company is to find markets for its Horn River property, the most likely target being Asia – Japan, South Korea and China. With its Elk Falls purchase, Quicksilver has the means to ship LNG to Asian markets.
A previously-identified hurdle to the project is the size of the existing gas pipeline that supplied the former pulp mill. That 10-inch line is not big enough, Rushford said. A 36-inch line will be needed. A route for a new pipeline has been identified and negotiations are ongoing with landholders.
Rushford said the company is “very confident” they can get a pipeline to the project. He pointed out that the plant developers don’t usually build or own the supplying pipeline, that would be done by any number of possible pipeline builders.
Before a pipeline is built and hooked up, the company has two major processes to go through – a regulatory path and a financial certainty path.
“A development of this size is much bigger than we can do on our own,” Rushford said.
Quicksilver is searching for an investment partner, likely a company from Asia.
With regards to regulatory approvals, both the federal and provincial governments have their environmental assessment acts to be satisfied.
Quicksilver intends to begin the regulatory process later this year. Pending regulatory approvals and permits, construction for the first phase of the potential project is expected to take approximately four years, with the project anticipated to be operational by 2019.
http://www.campbellrivermirror.com/news/223188481.html
_________________
That was then, this is now, as reported here at The Straight Goods several months ago....Quicksilver Resources was in big financial doo-doo..As in broke, as in delisted from the New York stock exchange...And as expected, today Quicksilver Resources filed for chapter 11 bankruptcy, they couldn`t even find a $13 million dollar interest payment..
_______________
Quicksilver Resources, the distressed Fort Worth oil and gas drilling company, filed for Chapter 11 bankruptcy Tuesday.
The bankruptcy was triggered by a $13.6 million interest payment the company intentionally skipped on Feb. 17. The 30-day grace period would have ended March 19.
___________________
http://www.reuters.com/article/2015/03/17/quicksilveresources-bankruptcy-idUSL3N0WJ5YW20150317
___________
Quicksilver Resources is claiming this bankruptcy filing won`t affect their Canadian assets and possible LNG plant....Maybe Christy Clark can lend them some money?
All I can say is....Don`t hold your breath Campbell River, it`s never going to happen!
More on the dying and drying up of LNG proposals here, and here..
After oil overload, a glut of natural gas may be next to flood the world’s energy markets | Financial Post
(Updated January 10th/2015)
Written by Grant G
B.C. Liberal`s over-hyped under delivered LNG pipe-dream takes another step backwards.. British Gas, gone, Apache, gone, EnCana gas, out the door, EOG Resources done like dinner, Petronas, caputsky and today another BC LNG player bites the dust.
Oh the hype, spin and bluster, Christy clucking Clark and full of gas Rich Coleman, ...remember their LNG revenues promises, for 4 years we have heard the bullshit from our provincial Government, bullshit that the media fell for, Baldrey, Palmer, Bill Good, ...Global BC ran with spin, The Province and Vancouver Sun newspapers actually created new sections in their paper, a section called BC LNG, now of course those new sections long gone and scuttled, you can only rerun the same stories for so long, hard to sell the public a pipe-dream with empty pages..
Christy Clark and Rich Coleman made these statements about LNG export revenue and jobs.
"Three LNG plants will create over 100,000 jobs for British Columbia"
"LNG revenues will eliminate our BC debt"
"LNG revenues will fund a $100 billion dollar prosperity fund"
Those two above mentioned liars Christy Clark and Rich Coleman said a whole lot more than that....
Christy Clark said during our 2013 provincial election that British Columbia would have two LNG export facilities up and running by 2015...
Here we are, 2015 is here and there is still not one shovel in the ground, no final investment decisions by any energy companies and not only have oil prices crashed but natural gas prices have retreated to near record low levels, even spot market rates for LNG are but half of what there were in 2013....And with LNG prices linked to oil prices, or as they say, indexed to the price of oil, future forecasts for LNG pricing makes the prospect of any Canadian LNG export projects going ahead very unlikely, unless the BC Government offers more substantial tax and royalty concessions, ....Which they could but to what end, fiscal numbers projected early on are out the door, no longer would B.C. see any debt reduction and as for debt elimination or a prosperity fund, pure fantasy, adding more concessions, bigger rebates and scaled up tax-breaks British Columbia would dive even deeper into debt...And for what reason, to prove a point, to pretend we know what we are doing or to punish us BCers for having fiscal doubts.
Yes indeed, it is possible to cook the books on an LNG industry(If one actually starts)for at least decade while companies write-off facilities and recoup inflated build costs but eventually someone would have to break the news to the public that an LNG industry riddled with concessions, tax breaks and provincial credits is not making us money but costing us $billions, putting us in the proverbial poorhouse..
The LNG game in British Columbia is virtually over...Today more bad news on the LNG front arrived on British Columbia`s shoreline......First things first..
Let`s go back to April-20th /2011 shall we....The beginning of Christy Clark`s LNG wet dream..
__________
Quicksilver boosts Canada’s nascent LNG industry
"Export plans to speed Horn River development; all three planned LNG export projects are viable
THE US’ Quicksilver Resources boosted the prospect for Canadian liquefied natural gas (LNG) exports to Asia as one of several outlets for steadily building production from British Columbia’s (BC) shale-gas deposits. Should one, or all of the three proposals to establish LNG export terminals on the BC coast come to fruition, Texas-based unconventional gas player Quicksilver will "be an important part of the marketing picture for the Horn River play", said company chairman Toby Darden. Quicksilver said the three projects are "likely to benefit all producers by [opening] additional markets for the massive resource potential" of the Horn River basin. The most advanced of the three is Kitimat LNG, a partnership of Apache (operator), EOG Resources and Encana. The 0.7bn cubic feet a day (cf/d) plant would come on line in 2015, assuming it has firm sales commitments by the end of this year"
Read more: http://www.petroleum-economist.com/Article/2811029/Quicksilver-boosts-Canadas-nascent-LNG-industry.html#ixzz3OKpbPrxf
_______________
This was around the start of Christy Clark`s hyping, spinning, blustering, and honing her election lies, a total fabricated con job designed to fool the public into thinking we would become rich, a ruse that BC`s lame, lazy and spineless media ran with ....For over four years we have been hearing BC Liberal white noise announcements on LNG projects and the coming riches.
Keep the bluster going, let`s get the people on board..September/2013...
_________
"But Quicksilver Resources is serious about seeing the project happen, says senior vice president and chief operating officer David Rushford.
“Obviously, we’re very serious,” Rushford said, during an interview at a community meet and greet held at the Elk Falls Mill site Monday.
Interest in the project is high amongst Campbell Riverites. People were asked to RSVP to the advertised informational event and 400 took the time to indicate they were coming. For every person that RSVPs, there’s an exponential number that plan to drop by so Quicksilver staff were prepared for up to 800 to show up.
The interest and support shown by Campbell River has impressed Quicksilver officials.
“When you try to develop these projects, one of the things you look for is a supportive community,” Rushford said. “The community is totally behind us.........
The challenge for the company is to find markets for its Horn River property, the most likely target being Asia – Japan, South Korea and China. With its Elk Falls purchase, Quicksilver has the means to ship LNG to Asian markets.
A previously-identified hurdle to the project is the size of the existing gas pipeline that supplied the former pulp mill. That 10-inch line is not big enough, Rushford said. A 36-inch line will be needed. A route for a new pipeline has been identified and negotiations are ongoing with landholders.
Rushford said the company is “very confident” they can get a pipeline to the project. He pointed out that the plant developers don’t usually build or own the supplying pipeline, that would be done by any number of possible pipeline builders.
Before a pipeline is built and hooked up, the company has two major processes to go through – a regulatory path and a financial certainty path.
“A development of this size is much bigger than we can do on our own,” Rushford said.
Quicksilver is searching for an investment partner, likely a company from Asia.
With regards to regulatory approvals, both the federal and provincial governments have their environmental assessment acts to be satisfied.
Quicksilver intends to begin the regulatory process later this year. Pending regulatory approvals and permits, construction for the first phase of the potential project is expected to take approximately four years, with the project anticipated to be operational by 2019."
http://www.campbellrivermirror.com/news/223188481.html
_____________
From the hype in 2011, everyone jumping on Asia`s deep pockets, ready to shake-down our Asian neighbors, including Christy Clark who repeatedly through our 2013 provincial election told British Columbia`s voters that..
"We can receive 5 and 6 times the north American price for our gas, we can retire our debt, create a $100 billion dollar prosperity fund by shipping our gas to Japan"
Japan had just suffered a big earthquake and massive tsunami, that geological event resulted in a nuclear accident, Japan was suddenly forced to shut down most of their existing electricity sources, leaving Japan starved for power...And dear old "families first" Christy Clark was there at the ready to shake-down our friends from Japan...Japan to go broke while BC lives in the lap of debt free luxury.....Oh indeed, Japan has no better friend than Christy Clark....?
The shoe is on the other foot now with Japan restarting their nuclear plants and with current Asian LNG pricing, and more, the price of LNG futures going forward is less money than what we can produce LNG for..Thus destroying Christy Clark`s LNG wet dream before she be(came) satisfied..
LNG price contracting going well past 2020 is now at a price point below the cost British Columbia can produce LNG for, a massive LNG glut exists today with staggering amounts of new supply under construction around the world..Australia, Qatar, Russia, East Africa to name but a few...
And it`s not just Quicksilver Resources having trouble, look at the players QuickSilver was to partner with in their 2011 press release(above)
EnCana Gas...EOG Resources...Apache...Everyone of those major energy players have said goodbye to British Columbia...
And still Rich Coleman and Christy Clark cling to LNG revenue and job promises, only now the projections are vague, time periods extended and money totals watered down..
Now we move up 2014....Quicksilver is now again looking for partners, actually Quicksilver is looking for someone, anyone with money...
_____________
Friday, 14 November 2014 10:15
____________
The new start-up date for Quicksilver....2021.....How about I tell you Quicksilver`s real timeline for exporting LNG.....NEVER....They are now caput too..
___________
http://www.upstreamonline.com/live/1379776/Quicksilver-gets-NYSE-de-listing-notice
_________________
So let`s have a look....Petronas....Gone.....British Gas...out the door.
EOG Resources...Moved on....Apache.....Caputsky..
EnCana Gas....Not interested in LNG in BC....And now Texas based Quicksilver Resources cast-strapped, broke, de-listed and no longer playing the game..
Meanwhile our minister of hot air, full of gas Rich Coleman is still blathering up a storm....What you need to remember about Rich Coleman is this..
Rich Coleman is set to retire within the next year or so, he doesn`t care what he says anymore, he won`t be around to criticize over British Columbia`s LNG failures..
How much more evidence do you need or require to realize LNG in British Columbia is dead issue? Even the BC Liberal Government must know in their heads that LNG in British Columbia is done, caput..
Proof of that is the Translink referendum, BC Hydro increases, ICBC increases, ferry fare increases, MSP increases...Every thing, every tax is scheduled to rise and rise and rise some more...There hasn`t been one statement from the BC Liberals about rolling back taxes, or adding to our BC debt temporarily as we await the $trillion dollar LNG industry to soar...
UPDATED HERE(January 10/2015)
DROPPING LIKE FLIES these proponents be, one of our regular contributors Elwood, in comments left information on another proposed LNG project that was getting out of British Columbia..And a little search revealed this..
From November 2013......
____________
Aurora LNG, a partnership headed by Nexen, the Canadian branch of CNOOC,
one of China’s largest energy companies, has applied to the National
Energy Board for an export licence to ship 24 million tonnes of
liquified natural gas over 25 years to Asian customers from Grassy Point
near Prince Rupert.
Two Japanese companies, Inpex Corp and JGC are partners with CNNOC in the joint venture.
The application comes just two weeks after the BC government gave Aurora “the right to pursue long-term access to Crown land” at Grassy Point, which is just south of the border with the Alaska Panhandle.
http://nwcoastenergynews.com/2013/11/29/5419/aurora-lng-applies-neb-grassy-point-export-licence/
_____________
This week(January 6th/2015) Aurora LNG made it official, they`re out too, adios, out of British Columbia for good!
___________
REF 271001
January 8, 2015
Meanwhile, like I said, Rich Coleman will blow hot air about LNG until
the very last day before he retires with his taxpayer`s funded riches...
__________
First Nations also stand to gain from the promise of LNG with the finalization of many new benefit agreements in 2015, similar to the one recently signed with the Nisga’a Nation that allows them to collect property tax on their land for industrial operations.
Coleman added that over the last year, the Province has put in place a competitive policy framework that defines the playing field. The LNG income tax framework gives companies the certainty they need to make investment decisions, while legislation has been passed to establish greenhouse gas emission targets that will make B.C. LNG facilities the cleanest in the world.
B.C. currently has 18 proposals for LNG export operations while five have been issued the Environmental Assessment certificates.
Coleman further said that realizing British Columbia’s LNG goal will take time, and a lot has already been achieved"
http://www.lngworldnews.com/bc-expects-lng-lift-off-in-2015/
___________________
And in the even more British Columbia bad LNG news department, in the below linked article posted in the Financial Post, no one believes Rich Coleman, the article linked directly below is literally calling Rich Coleman`s above prediction/statement...Very suspect!
http://business.financialpost.com/2015/01/08/no-white-knight-coming-distressed-natural-gas-producers-hunker-down-amid-new-energy-reality/?__lsa=7fbd-d19b
_____________
Yea, sure thing Rich Coleman....Can you say DE-LUS-IONAL?
But Quicksilver Resources is serious about seeing the project happen, says senior vice president and chief operating officer David Rushford.
“Obviously, we’re very serious,” Rushford said, during an interview at a community meet and greet held at the Elk Falls Mill site Monday.
Interest in the project is high amongst Campbell Riverites. People were asked to RSVP to the advertised informational event and 400 took the time to indicate they were coming. For every person that RSVPs, there’s an exponential number that plan to drop by so Quicksilver staff were prepared for up to 800 to show up.
The interest and support shown by Campbell River has impressed Quicksilver officials.
“When you try to develop these projects, one of the things you look for is a supportive community,” Rushford said. “The community is totally behind us.”
Rushford said the Elk Falls site, which it bought from Catalyst Paper in May for $8.6 million is a perfect location. It has a deepwater port, a brownfield site (mothballed industrial location) that is “beautiful” for LNG, there are multiple ways to get the gas here and there is an educated local workforce that is a legacy of the former pulp and paper operation.
“You are not going to see a better site in B.C. to do LNG than Campbell River,” Rushfrod said.
The company has leased approximately 129,000 acres in northeastern B.C. in the Horn River Basin, where Horn River Shale formations are believed to contain large quantities of recoverable deep shale natural gas. The company also holds 410,000 acres in Alberta.
The challenge for the company is to find markets for its Horn River property, the most likely target being Asia – Japan, South Korea and China. With its Elk Falls purchase, Quicksilver has the means to ship LNG to Asian markets.
A previously-identified hurdle to the project is the size of the existing gas pipeline that supplied the former pulp mill. That 10-inch line is not big enough, Rushford said. A 36-inch line will be needed. A route for a new pipeline has been identified and negotiations are ongoing with landholders.
Rushford said the company is “very confident” they can get a pipeline to the project. He pointed out that the plant developers don’t usually build or own the supplying pipeline, that would be done by any number of possible pipeline builders.
Before a pipeline is built and hooked up, the company has two major processes to go through – a regulatory path and a financial certainty path.
“A development of this size is much bigger than we can do on our own,” Rushford said.
Quicksilver is searching for an investment partner, likely a company from Asia.
With regards to regulatory approvals, both the federal and provincial governments have their environmental assessment acts to be satisfied.
Quicksilver intends to begin the regulatory process later this year. Pending regulatory approvals and permits, construction for the first phase of the potential project is expected to take approximately four years, with the project anticipated to be operational by 2019.
http://www.campbellrivermirror.com/news/223188481.html
_________________
That was then, this is now, as reported here at The Straight Goods several months ago....Quicksilver Resources was in big financial doo-doo..As in broke, as in delisted from the New York stock exchange...And as expected, today Quicksilver Resources filed for chapter 11 bankruptcy, they couldn`t even find a $13 million dollar interest payment..
_______________
Time runs out as Quicksilver files for Chapter 11 bankruptcy protection
The bankruptcy was triggered by a $13.6 million interest payment the company intentionally skipped on Feb. 17. The 30-day grace period would have ended March 19.
See Also
- Quicksilver carries more than $1 billion in debt into bankruptcy
- Quicksilver skips interest payment as Chapter 11 bankruptcy looms
- Quicksilver Resources cuts 10 percent of workforce as oil price falls
___________________
http://www.reuters.com/article/2015/03/17/quicksilveresources-bankruptcy-idUSL3N0WJ5YW20150317
___________
Quicksilver Resources is claiming this bankruptcy filing won`t affect their Canadian assets and possible LNG plant....Maybe Christy Clark can lend them some money?
All I can say is....Don`t hold your breath Campbell River, it`s never going to happen!
More on the dying and drying up of LNG proposals here, and here..
After oil overload, a glut of natural gas may be next to flood the world’s energy markets | Financial Post
LNG Proponents in British Columbia, Another One Bites The Dust
(Updated January 10th/2015)
Written by Grant G
B.C. Liberal`s over-hyped under delivered LNG pipe-dream takes another step backwards.. British Gas, gone, Apache, gone, EnCana gas, out the door, EOG Resources done like dinner, Petronas, caputsky and today another BC LNG player bites the dust.
Oh the hype, spin and bluster, Christy clucking Clark and full of gas Rich Coleman, ...remember their LNG revenues promises, for 4 years we have heard the bullshit from our provincial Government, bullshit that the media fell for, Baldrey, Palmer, Bill Good, ...Global BC ran with spin, The Province and Vancouver Sun newspapers actually created new sections in their paper, a section called BC LNG, now of course those new sections long gone and scuttled, you can only rerun the same stories for so long, hard to sell the public a pipe-dream with empty pages..
Christy Clark and Rich Coleman made these statements about LNG export revenue and jobs.
"Three LNG plants will create over 100,000 jobs for British Columbia"
"LNG revenues will eliminate our BC debt"
"LNG revenues will fund a $100 billion dollar prosperity fund"
Those two above mentioned liars Christy Clark and Rich Coleman said a whole lot more than that....
Christy Clark said during our 2013 provincial election that British Columbia would have two LNG export facilities up and running by 2015...
Here we are, 2015 is here and there is still not one shovel in the ground, no final investment decisions by any energy companies and not only have oil prices crashed but natural gas prices have retreated to near record low levels, even spot market rates for LNG are but half of what there were in 2013....And with LNG prices linked to oil prices, or as they say, indexed to the price of oil, future forecasts for LNG pricing makes the prospect of any Canadian LNG export projects going ahead very unlikely, unless the BC Government offers more substantial tax and royalty concessions, ....Which they could but to what end, fiscal numbers projected early on are out the door, no longer would B.C. see any debt reduction and as for debt elimination or a prosperity fund, pure fantasy, adding more concessions, bigger rebates and scaled up tax-breaks British Columbia would dive even deeper into debt...And for what reason, to prove a point, to pretend we know what we are doing or to punish us BCers for having fiscal doubts.
Yes indeed, it is possible to cook the books on an LNG industry(If one actually starts)for at least decade while companies write-off facilities and recoup inflated build costs but eventually someone would have to break the news to the public that an LNG industry riddled with concessions, tax breaks and provincial credits is not making us money but costing us $billions, putting us in the proverbial poorhouse..
The LNG game in British Columbia is virtually over...Today more bad news on the LNG front arrived on British Columbia`s shoreline......First things first..
Let`s go back to April-20th /2011 shall we....The beginning of Christy Clark`s LNG wet dream..
__________
Quicksilver boosts Canada’s nascent LNG industry
"Export plans to speed Horn River development; all three planned LNG export projects are viable
THE US’ Quicksilver Resources boosted the prospect for Canadian liquefied natural gas (LNG) exports to Asia as one of several outlets for steadily building production from British Columbia’s (BC) shale-gas deposits. Should one, or all of the three proposals to establish LNG export terminals on the BC coast come to fruition, Texas-based unconventional gas player Quicksilver will "be an important part of the marketing picture for the Horn River play", said company chairman Toby Darden. Quicksilver said the three projects are "likely to benefit all producers by [opening] additional markets for the massive resource potential" of the Horn River basin. The most advanced of the three is Kitimat LNG, a partnership of Apache (operator), EOG Resources and Encana. The 0.7bn cubic feet a day (cf/d) plant would come on line in 2015, assuming it has firm sales commitments by the end of this year"
Read more: http://www.petroleum-economist.com/Article/2811029/Quicksilver-boosts-Canadas-nascent-LNG-industry.html#ixzz3OKpbPrxf
_______________
This was around the start of Christy Clark`s hyping, spinning, blustering, and honing her election lies, a total fabricated con job designed to fool the public into thinking we would become rich, a ruse that BC`s lame, lazy and spineless media ran with ....For over four years we have been hearing BC Liberal white noise announcements on LNG projects and the coming riches.
Keep the bluster going, let`s get the people on board..September/2013...
_________
Excitement builds over Campbell River LNG plant
"But Quicksilver Resources is serious about seeing the project happen, says senior vice president and chief operating officer David Rushford.
“Obviously, we’re very serious,” Rushford said, during an interview at a community meet and greet held at the Elk Falls Mill site Monday.
Interest in the project is high amongst Campbell Riverites. People were asked to RSVP to the advertised informational event and 400 took the time to indicate they were coming. For every person that RSVPs, there’s an exponential number that plan to drop by so Quicksilver staff were prepared for up to 800 to show up.
The interest and support shown by Campbell River has impressed Quicksilver officials.
“When you try to develop these projects, one of the things you look for is a supportive community,” Rushford said. “The community is totally behind us.........
The challenge for the company is to find markets for its Horn River property, the most likely target being Asia – Japan, South Korea and China. With its Elk Falls purchase, Quicksilver has the means to ship LNG to Asian markets.
A previously-identified hurdle to the project is the size of the existing gas pipeline that supplied the former pulp mill. That 10-inch line is not big enough, Rushford said. A 36-inch line will be needed. A route for a new pipeline has been identified and negotiations are ongoing with landholders.
Rushford said the company is “very confident” they can get a pipeline to the project. He pointed out that the plant developers don’t usually build or own the supplying pipeline, that would be done by any number of possible pipeline builders.
Before a pipeline is built and hooked up, the company has two major processes to go through – a regulatory path and a financial certainty path.
“A development of this size is much bigger than we can do on our own,” Rushford said.
Quicksilver is searching for an investment partner, likely a company from Asia.
With regards to regulatory approvals, both the federal and provincial governments have their environmental assessment acts to be satisfied.
Quicksilver intends to begin the regulatory process later this year. Pending regulatory approvals and permits, construction for the first phase of the potential project is expected to take approximately four years, with the project anticipated to be operational by 2019."
http://www.campbellrivermirror.com/news/223188481.html
_____________
From the hype in 2011, everyone jumping on Asia`s deep pockets, ready to shake-down our Asian neighbors, including Christy Clark who repeatedly through our 2013 provincial election told British Columbia`s voters that..
"We can receive 5 and 6 times the north American price for our gas, we can retire our debt, create a $100 billion dollar prosperity fund by shipping our gas to Japan"
Japan had just suffered a big earthquake and massive tsunami, that geological event resulted in a nuclear accident, Japan was suddenly forced to shut down most of their existing electricity sources, leaving Japan starved for power...And dear old "families first" Christy Clark was there at the ready to shake-down our friends from Japan...Japan to go broke while BC lives in the lap of debt free luxury.....Oh indeed, Japan has no better friend than Christy Clark....?
The shoe is on the other foot now with Japan restarting their nuclear plants and with current Asian LNG pricing, and more, the price of LNG futures going forward is less money than what we can produce LNG for..Thus destroying Christy Clark`s LNG wet dream before she be(came) satisfied..
LNG price contracting going well past 2020 is now at a price point below the cost British Columbia can produce LNG for, a massive LNG glut exists today with staggering amounts of new supply under construction around the world..Australia, Qatar, Russia, East Africa to name but a few...
And it`s not just Quicksilver Resources having trouble, look at the players QuickSilver was to partner with in their 2011 press release(above)
EnCana Gas...EOG Resources...Apache...Everyone of those major energy players have said goodbye to British Columbia...
And still Rich Coleman and Christy Clark cling to LNG revenue and job promises, only now the projections are vague, time periods extended and money totals watered down..
Now we move up 2014....Quicksilver is now again looking for partners, actually Quicksilver is looking for someone, anyone with money...
_____________
Friday, 14 November 2014 10:15
Quicksilver seeks LNG partner
"Proponents for the Campbell River LNG project, Texas based Quicksilver Resources has deferred further spending on its shale-gas assets amid negotiations for an LNG project partner. Current planning calls for the proposed LNG export terminal to be operated by a downstream partnership between Quicksilver and a third-party company as yet unnamed. The feed-gas for Discovery LNG would come from the Horn River Basin in northeast BC, one of Canada's prolific shale-gas areas and already earmarked to supply resources for several other LNG export plants. The company has filed an application with the NEB to export up to 20 million tons/year with a start up date of 2021."____________
The new start-up date for Quicksilver....2021.....How about I tell you Quicksilver`s real timeline for exporting LNG.....NEVER....They are now caput too..
___________
Quicksilver gets NYSE de-listing notice
"Cash-strapped Quicksilver Resources has been notified by the New York Stock Exchange that it is in danger of being de-listed due to its stock trading at below $1 for more than 30 consecutive days"http://www.upstreamonline.com/live/1379776/Quicksilver-gets-NYSE-de-listing-notice
_________________
So let`s have a look....Petronas....Gone.....British Gas...out the door.
EOG Resources...Moved on....Apache.....Caputsky..
EnCana Gas....Not interested in LNG in BC....And now Texas based Quicksilver Resources cast-strapped, broke, de-listed and no longer playing the game..
Meanwhile our minister of hot air, full of gas Rich Coleman is still blathering up a storm....What you need to remember about Rich Coleman is this..
Rich Coleman is set to retire within the next year or so, he doesn`t care what he says anymore, he won`t be around to criticize over British Columbia`s LNG failures..
How much more evidence do you need or require to realize LNG in British Columbia is dead issue? Even the BC Liberal Government must know in their heads that LNG in British Columbia is done, caput..
Proof of that is the Translink referendum, BC Hydro increases, ICBC increases, ferry fare increases, MSP increases...Every thing, every tax is scheduled to rise and rise and rise some more...There hasn`t been one statement from the BC Liberals about rolling back taxes, or adding to our BC debt temporarily as we await the $trillion dollar LNG industry to soar...
UPDATED HERE(January 10/2015)
DROPPING LIKE FLIES these proponents be, one of our regular contributors Elwood, in comments left information on another proposed LNG project that was getting out of British Columbia..And a little search revealed this..
From November 2013......
____________
Aurora LNG applies to NEB for Grassy Point export licence
Aurora LNG, a partnership headed by Nexen, the Canadian branch of CNOOC,
one of China’s largest energy companies, has applied to the National
Energy Board for an export licence to ship 24 million tonnes of
liquified natural gas over 25 years to Asian customers from Grassy Point
near Prince Rupert.Two Japanese companies, Inpex Corp and JGC are partners with CNNOC in the joint venture.
The application comes just two weeks after the BC government gave Aurora “the right to pursue long-term access to Crown land” at Grassy Point, which is just south of the border with the Alaska Panhandle.
http://nwcoastenergynews.com/2013/11/29/5419/aurora-lng-applies-neb-grassy-point-export-licence/
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This week(January 6th/2015) Aurora LNG made it official, they`re out too, adios, out of British Columbia for good!
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REF 271001
January 8, 2015
Darcy Janko
Manager
Aurora LNG Ltd.
801 7
th
Ave SW
Calgary AB T2P 2V7
Dear Mr. Janko:
Thank you for your letter dated January 6, 2015 Requesting that the
Aurora LNG Grassy Point Project(proposed project)be withdrawn from the
provincial environmental assessment(EA) process. The Environmental
Office(EAO)is in agreement with your request and has reflected the
"withdrawn status" on our website.
EAO intends to post this letter, with your letter attached to our
website and to reflect the status of the EA for the proposed project.
If you have any questions, please contact me by email at
Tavis.McDonald@gov.bc.ca
or by phone at 250-638-5172
Yours truly,
Tavis McDonald
Project Assessment Manager
_________________
LET`S ADD TO THAT OUT THE DOOR LIST....
CNOOC(Chinese National Offshore Oil Company) out of British Columbia...JAPAN`S INPEX--See you later and JAPAN GAS CO. --Adios Muchachos...
LET`S ADD TO THAT OUT THE DOOR LIST....
CNOOC(Chinese National Offshore Oil Company) out of British Columbia...JAPAN`S INPEX--See you later and JAPAN GAS CO. --Adios Muchachos...
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The Province of British Columbia expects its LNG industry to take flight in 2015 as it expects developers to make final investment decisions on several projects.
"According to the Minister of Natural gas development, Rich Coleman, as many as 100,000 new jobs could be created through diversification with the natural gas sector.First Nations also stand to gain from the promise of LNG with the finalization of many new benefit agreements in 2015, similar to the one recently signed with the Nisga’a Nation that allows them to collect property tax on their land for industrial operations.
Coleman added that over the last year, the Province has put in place a competitive policy framework that defines the playing field. The LNG income tax framework gives companies the certainty they need to make investment decisions, while legislation has been passed to establish greenhouse gas emission targets that will make B.C. LNG facilities the cleanest in the world.
B.C. currently has 18 proposals for LNG export operations while five have been issued the Environmental Assessment certificates.
Coleman further said that realizing British Columbia’s LNG goal will take time, and a lot has already been achieved"
http://www.lngworldnews.com/bc-expects-lng-lift-off-in-2015/
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And in the even more British Columbia bad LNG news department, in the below linked article posted in the Financial Post, no one believes Rich Coleman, the article linked directly below is literally calling Rich Coleman`s above prediction/statement...Very suspect!
http://business.financialpost.com/2015/01/08/no-white-knight-coming-distressed-natural-gas-producers-hunker-down-amid-new-energy-reality/?__lsa=7fbd-d19b
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Yea, sure thing Rich Coleman....Can you say DE-LUS-IONAL?
You and Christy Clark, blinded by science.....Science of the stupid
The Straight Goods
Cheers Eyes Wide Open
2 comments:
I thought this was interesting:
"Even if oil rebounds, the province (Alberta) could still face a structural deficit in the range of $4 billion to $5 billion in a few years, potentially turning it into a have-not province."
http://www.cbc.ca/news/business/alberta-faces-structural-deficit-even-if-oil-rebounds-td-says-1.3001177
After all is said & done..... if & when an LNG proposal actually starts putting shovels in the ground...Christy Clark & her gang will be there to tell us all "LNG is on time as promised "
This of course will be substantiated by the good folks in the MSM.
Guy in Victoria
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