About Me-email is... grant.go@aol.com

My photo
garden bay, west coast, Canada
persistent digging,never say never

Saturday, October 1, 2016

Why is Rich Coleman planning to “restart our discussions in and around our project development agreement.”

What am I talking about?

Rich Coleman in an exclusive with BIV(Business in Vancouver Magazine) on September 21st/2016 said this, and I quote..

______________

https://www.biv.com/article/2016/9/exclusive-coleman-reveals-housing-lng-and-campaign/


Exclusive: Coleman reveals housing, LNG and campaign secrets to party faithful


Coleman, who is also the Minister of Natural Gas Development, said he expects a final investment decision on one of three major liquefied natural gas export proposals before the May 9, 2017 provincial election.
The federal government’s environmental review decision on Pacific NorthWest LNG near Prince Rupert is expected by October 2, but Coleman indicated economic uncertainty remains around the project, which is backed by Malaysian state-owned Petronas.
He said it is “quite likely” that he would meet in October with the president of Petronas in Malaysia and the presidents of the four minority partners to “restart our discussions in and around our project development agreement.”
“We really need to figure out the numbers,” he said. “The numbers have really got to be tightened down. Because the price of gas in Asia right now is so cheap, because of the price of oil. Just about nobody is globally competitive on a long-term contract they signed before the market crash.
I know the number they have to get to in order to make it financially viable, I think they’re about 50 cents to a dollar away from that, but it’s a lot better than it was six months ago.”

_______________
Ok, let's get started......PDA, a Project Development Agreement....THE PDA in question was already passed in the BC Legislature..
Remember this...What Christy Clark promised during the 2013  election...The NDP voted in favour of the initial BC Liberal LNG framework...Then the big energy companies squeaked and ....The BC Liberals brought in a new PDA agreement and rammed it through the house....slashed the tax rate, me too clauses, any carbon taxes would be paid by the province, not Petronas...in other words the BC Liberals caved ..That caving is now called an historic sellout..

______
And this..
____________

Matt Toner: B.C.'s Petronas LNG deal is bad economic policy and profoundly undemocratic



___________

John Horgan and the NDP need to ask some serious questions...What does Rich Coleman mean when he says this..
Coleman said it is “quite likely” that he would meet in October with the president of Petronas in Malaysia and the presidents of the four minority partners to "restart our discussions in and around our project development agreement.”
And what does Rich Coleman mean when he says this...
“I know the number they have to get to in order to make it financially viable, I think they’re about 50 cents to a dollar away from that, but it’s a lot better than it was six months ago.”
I'll tell you exactly what it means....That historic sellout PDA with Petronas is being renegotiated downward, Rich Coleman isn't talking about LNG buying customers being within 50 cents to a $1 dollars, Rich Coleman is talking about slashing what BC would receive even more than they already slashed..

That would require new legislation, a brand new PDA to be rammed through the house...

I'll have more to say on this shortly..However, I watched and listened to the presser live....and guess what Fisheries Minister Dominic LeBlanc said...
  
...it was about the jobs....(Paraphrasing here)Dominic Leblanc said...

Petronas would create 300 direct jobs and 360 spinoff jobs and..about 4000 construction workers at the peak...

But that doesn't jive with what Rich Coleman said ....that doesn't jive or come anywhere near the employment numbers Christy Clark has touted over the last 4 years...Here is what Rich Coleman said in Victoria on..


February 22/2014 Rich Coleman made this outrageous statement while giving a 30 minute speech on LNG..

Read it carefully..

__________

I get a kick out of some of the other folks out there saying: 'You're behind schedule.' "No we're not. We're actually right on the time frame that I established."

One thing that works in the government's favour is the scale of the enterprise. The values are so vast that even delivering a fraction of the potential could count as a win.

Coleman said: "They say: 'They can't all go ahead.' "I say: 'OK. Let's have three. LNG plants' That's $100 billion. That's 100,000 jobs."
It's that comfort level that's giving him the kicks, and the amusement. snip..



http://www.canada.com/victoriatimescolonist/news/comment/story.html?id=9cc9a3fd-2f0b-4b77-b2e1-40ddae5a1039&k=33176

___________

Well well well....So federal minister Dominic Leblanc says after construction...330 direct jobs and 360 spinoff jobs....Shouldn't there be 33,000 jobs with this project?....Rich Coleman said that three LNG plants is 100,000 jobs..

Another Rich Coleman lie....And here is another Rich Coleman lie..


Coleman said it is “quite likely” that he would meet in October with the president of Petronas in Malaysia and the presidents of the four minority partners to “restart our discussions in and around our project development agreement.”
How do you restart discussions around a PDA..a PDA enshrined in legislation....a PDA so bile the BC NDP voted against it...

In other words...the way I read it....Petronas is not going forward with a FID at all...not a chance, and..according to Rich Coleman...
Petronas may build.....Petronas may go forward but only If the BC Government offers up a new PDA where the province takes an even bigger hit..

Someone needs to ask Rich Coleman what the hell is going on, ask him how you restart talks on a PDA enshrined by legislation....ask Rich Coleman when will the BC Liberal sellout government bring forth a new PDA?..I won't hold my breath waiting for Keith Baldrey or Michael Smyth to ask the tough questions..
Lastly....I said it many many times..."The only way Petronas will build an LNG plant is if we pay them to take the gas...
Need a little more...from an earlier Straight Goods Post..
____________
The head of an advocacy group for B.C.'s oil and gas service sector says it could be almost another year before Petronas makes an investment decision on its Pacific NorthWest LNG facility.

At the annual general meeting of Energy Services BC late last month, President Dave Turchanski told members that, according to a source within the company, the Malaysian oil and gas giant likely won't make a final investment decision on Pacific NorthWest until June 2017.

The facility, which would be built on Lelu Island near Prince Rupert, would process gas from Northeast B.C. for export to Asia. It is undergoing a review by the Canadian Environmental Assessment Agency, with a decision expected by 
mid-September.

"At the earliest is June of 2017, Petronas might come out with a final investment decision (FID)," Turchanski said in an interview. 


"If they come out with an FID, that doesn't mean they're going to go to work right away. They might delay it another year, they might delay it two years, they might delay it five years."

_______________
Anyway....even with that...My money says Petronas defers for years and years...probably forever..

The Straight Goods
Cheers Eyes Wide Open











7 comments:

John's Aghast said...

What are we negotiating over? We're already giving it away. Do we have to pay them to take it?
I notice a large number of transport trucks and many busses have signs saying "powered by Natural Gas". Would it not provide a modicum of common sense to keep the stuff here and use it domestically? Think of the advantages if the common taxpayer could access free heat, reduced transportation costs for groceries and cheaper ferry fares! The mind boggles at the endless benefits domestic use could provide. STOP financing Malaysia's President's Free Get Out Of Jail Card and look after the home folk!

Anonymous said...

When you think about it, a Yes on a FID by PETRONAS would almost guarantee the Liberals a win in the next election. It wouldn't surprise me at all if Coleman is told to go to Malaysia and get a Yes at all costs. In order to do that, he'll have to sell BC out. We are screwed.

Roy said...

Why can't we have a government that developes a gas industry instead of one that gives everything away. Can you imagine if WAC was still alive and running the show. He looked to the future and what was better for the people of BC. Not what was better for his bussness friends. Build your own LNG plant, instead of a new dam. You want to get elected again look out for the population as a whole not just the wealthy 1%. Why should PETRONAS be calling the shots here, whos FUCKING gas is it anyway. By the way WAC is rolling in his grave watching what you liberals are doing to his BC Hydro.

Anonymous said...

This project is going no where. It's another smoke and mirrors by this government, promises, promises, jobs, jobs. There is no way PETRONAS is building.
https://ca.finance.yahoo.com/news/petronas-weighs-sale-exit-27-billion-canada-lng-094639124--finance.html
More big bucks this government is spending to tell us it is going ahead. Now, the way I see it, if they offer PETRONAS anything, the costs to BCrs will be astronomical with no return.

istvan said...

Roy,
WAC treated his friends and family VERY well. Many got rich .I do agree that he had a good vision of the future of BC ie BC HYDRO....

Anonymous said...

The way you and Alex shift things before an election.

I call bullshit Mr Grant. What? You are a fraud. How much money are you paid before this election. You and the very few have some to write. I See similar between us and the us.

I like some of your triade. Sorry spelt wrong. But you and Miss Christy are Bill Good fellows.

I think you are a paid look over here kinda guy.

Imay be the one whom is not follow you again.

Anonymous said...


http://www.smh.com.au/federal-politics/political-news/the-gas-boom-is-on-but-the-riches-for-australia-are-far-from-assured-20161013-gs1u8p.html?deviceType=text

So Christy, the BS continues with all the money pouring in. What a deceitful bunch.