Written by LNG analyst Grant G (just for you Brad Zubyk)
I swear that every time bad news comes out about BC`s LNG wet dream a few days later a bunch of LNG, stale, vague articles ooze out from beneath the corporate echo chamber....
It`s almost like Christy Clark and Rich Coleman go a begging for a headline...It has happened again...The below cut n paste job is very amusing.....In the Glob n Mail spinfest article by Brent Jang....You will see the words ..
Even more interesting is Exxon Mobile`s timeline.....They hope to finish engineering studies by late 2017....And IF they decide to go-ahead it too will be late 2017...That my friends is AFTER our next provincial election....So funny, the BC Liberal influence peddlers are already priming the pump for the next election...As in, vote for Christy Clark to make sure BC receives those $trillions of LNG dollars.....just around the next corner...
Below is from the Globe n Mail...
"Exxon Mobil Corp. has selected on-shore terminal plans in its quest to export liquefied natural gas from a site near Prince Rupert, B.C., positioning the project as a serious contender.
While Pacific NorthWest LNG leads B.C.’s LNG race, Irving, Tex.-based Exxon Mobil and its Canadian affiliate Imperial Oil Ltd. hope to finish engineering studies in 2017 for their joint venture called WCC LNG Project Ltd."
"Industry analysts say only three or four of the 19 B.C. LNG proposals have a realistic chance of being built, especially with a looming global glut of supplies and fierce competition worldwide to export to Asia.....
“WCC LNG looks forward to working with stakeholders and First Nations to help capture associated benefits from the project while protecting the environment,” Mr. Bigler said. His letter, dated April 20, was publicly posted recently by the provincial environmental regulator.......
Analysts point out that the B.C. proposals are focused on building from scratch, making them more expensive than several U.S. projects that already have energy infrastructure in place......
WCC LNG estimates that it could take seven years for construction. If the proponents decide to go ahead with construction in late 2017, LNG exports from Tuck Inlet might start in 2024 "
And in further news on LNG, Petronas`s Federal Environmental assessment has been paused, the Federal CCEA needs more information from Petronas regarding the Skeena River Flora and eel grass..
In layman terms....The Federal Environmental assessment board isn`t convinced Petronas can build at Lelu island without killing the salmon rearing habitat..
"Last Tuesday, the Canadian Environmental Assessment Agency halted the regulatory clock on day 263 of its review of Pacific NorthWest LNG. It marks the latest in a series of information requests sought by CEAA, but industry observers say the lengthy process could wrap up by October and still meet the 365-day timeline.
A spokeswoman for the federal regulator said CEAA requires more details about Pacific NorthWest LNG’s 3-D modelling of the possible environmental impact of the terminal on Flora Bank – an area for juvenile salmon habitat, located next to the proposed $11.4-billion Lelu Island export site."
So, Petronas will not have a decision from the Federal Environmental agency until after the federal election...Doesn`t matter..Petronas is punting their decision on a FID until after our 2017 provincial election...No shovels in the ground before the BC 2017 election..
Ok...Christy the habitual Liar Clark made a big Yoga announcement last Friday...Banners were hanging at the press conference, Lululemon banners, and more...The other big sponsor with banners hanging at the YOGA presser was Altagas...Strange don`t you think, AltaGas banners hanging prominently at a Yoga presser, ...And we do know that Altagas donated money to the BC Liberals...
Well guess what...Altagas has come out bleating about an LNG operation in the news today too..
And, this particular announcement by Altagas reeks in so many ways...
AltaGas commits to LNG terminal by 2018, challenges international report
"We think we'll prove them wrong in this decade," David Cornhill said Monday in an interview following a report last week by the International Energy Agency.
Cornhill said the company is making progress on plans for the Douglas Channel LNG terminal in British Columbia, which an AltaGas-led consortium took over earlier this year.
"We have nothing that we see at this point that will stop us," he said. "It is a lot of work, there are some tight timelines, so it's not a walk in the park, but clearly we think it's achievable.".....
AltaGas has not yet made a final investment decision on the project but expects to by the end of the year.
Here`s the deal...It is ok to make a vague announcement, but those above cut n pasted paragraphs appear to be by design, why not just announce your proposal?...Altagas spokesthingy went out of his way to dispute a damning report by the IEA...Kinda like a forced pissing contest...And still there is no FID...That too has been punted down the road....
The ALTAgas article seems to be more about disputing the IEA`s claims than promoting their own project..
There`s more...the IEA report was critical ,was doubtful any big land-based LNG projects would be built on Canada`s Westcoast before 2025....
I too wrote an article days before the IAE report came out...In The Straight Goods article I explicitly said that ...
The Beginning of The end for Behemoth Land-Based LNG Export Plants(Petronas`s Achilles Heel, Finding Profit)
I wrote how floating LNG plants will be the new darling of the LNG industry, not expensive land-based behemoth LNG liquefaction plants...What does that have to do with the Altagas article?..Simple..
Altagas, which I believe is dead serious about their proposal...They aren`t building, or proposing building a land-based plant, indeed..
"The Douglas Channel terminal would be based on a floating barge rather than on land and would make use of an existing gas pipeline that goes to Kitimat.
"I think small LNG facilities are far better from an environment perspective," said Cornhill. "We think it's easier, the impact is lower, floating technology reduces the impact on land, cost control is better."
Dirk Lever, an energy analyst at Altacorp Capital, said in an email that he expects Douglas Channel to be the first new LNG facility on B.C.'s northern coast.
Pacific Oil and Gas Ltd.'s 2.1-million-tonne-per-year Woodfire LNG project near Squamish is also at an advanced stage, but the project has been running into some local opposition."