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

Saturday, February 27, 2016

The Malahat LNG Story....Game Over...The Wisdom of Doug White

MALAHAT LNG PROPOSAL RAISES PRE-CONFEDERATION TREATY RIGHTS AND CONSENT CONCERNS


Written by Doug White 

The Malahat First Nation and its partner Steelhead LNG announced on August 20th, 2015, a proposal to build a floating liquefied natural gas plant in Saanich Inlet at Bamberton along with an underwater supply pipeline across the Salish Sea that would cross both American and Canadian waters. Steelhead LNG has also been working toward another major LNG project with the Huu-ay-aht First Nation on the west coast of Vancouver Island at Sarita Bay on the waters of Barclay Sound and toward the entrance to Alberni Inlet. Just weeks after the Malahat LNG announcement, on October 3, 2015, the National Energy Board approved a 25-year licence for the annual export of up to six million tonnes of LNG from the Malahat LNG project.



Based on reported negative reactions from within the Malahat First Nation itself and from neighbouring First Nations, it became immediately clear that the Malahat First Nation had not engaged with or secured consent from them. Further, the NEB export licences were apparently issued without any notice or engagement with First Nations around Saanich Inlet. The proposal raises serious questions about the Pre-Confederation Treaty rights of the respective First Nations and the duty to secure consent for proposals that would interfere with those rights.

For over a century First Nations have watched with little say over land use decisions and the location of major projects that have had major impacts on their territories, rights and way of life. However, at the outset of the relationship between settlers and Indigenous Peoples on Vancouver Island, a very different relationship was created through the 14 Pre-Confederation Treaties commonly referred to as Douglas Treaties. These Treaties, and the legal principles and understandings that arose out of them starting in the early 1960s, granted recognition and respect of the Aboriginal Title interest to village sites and protection for the Indigenous way of life including hunting and fishing. Regarding the Treaties impact on provincial Crown jurisdiction, from White and Bob (SCC 1965) through Morris and Olsen (2006), it has been made clear to the provincial Crown that their jurisdiction and authority is limited and ousted by the need to protect the continuity of the rights set out in the Treaties. The federal government, for its part, must respect and uphold the treaty rights, is constrained by a fiduciary duty to safeguard the treaty protected rights, as well as a duty to diligently pursue the fulfillment of its constitutional obligations. Similar rights exist on the American side of the Salish Sea through the Stevens Treaties which led to the famous Boldt decision from the 1970s where the federal government sued the state government of Washington to uphold and protect the treaty rights to fish of their Indigenous treaty partners.......


Premier Christy Clark remains committed to LNG, notwithstanding the total collapse of global energy economics over the past year and a half. She has built her government’s political and economic agenda around its success and has encouraged a gold rush mentality and speculative approach to LNG development across the province.

 However, oil was valued well over $100/barrel in the summer of 2014 and in recent months it has been below $30/barrel and the price of much of the LNG market is indexed to the price of oil so this sudden drastic drop severely challenges LNG economics and its enormous capital costs for building plants and pipelines.

Steelhead LNG says it remains on track for the Bamberton LNG project and is continuing to pursue it. The Malahat First Nation has gone through a change in government after the resignation of former Chief Michael Harry. The new government, led by Chief Caroline Harry, recently dismissed the trustees of their Malahat Investment Corporation along with the First Nation’s chief executive officer, chief legal officer and chief financial officer.


While economic and political dynamics appear to be deeply unsettled around this proposal, what is clear in all of this is the need to approach decision making about the use of the lands and waters around the Salish Sea in ways that are consistent with the Treaty Rights and Aboriginal Title of the Indigenous Peoples that have called it home for millennia.


Doug White is an elected Councillor in Snuneymuxw First Nation, Director for Pre-Confederation Treaties and Reconciliation at Vancouver Island University.

 http://www.saanichinlet.net/blog/2016/2/27/doug-white-the-malahat-lng-story
_________________________

Who is Doug White?
  

DOUGLAS S. WHITE, B.A., J.D., is a member and former Chief of the Snuneymuxw First Nation in Nanaimo, BC. His Coast Salish name is Kwul’a’sul’tun and his Nuu-chah-nulth name is Tlii’shin. After completing his B.A. in First Nations Studies (with distinction) from Malaspina University-College, he graduated from the Faculty of Law at the University of Victoria in 2006. He was called to the Bar of British Columbia in January 2008. He has been a director of the Indigenous Bar Association of Canada and an associate lawyer at Mandell Pinder. He was the elected Chief of the Snuneymuxw First Nation from December 2009 to February 2014 where a major focus of his work was in relation to the implementation of the Snuneymuxw Treaty of 1854. From June of 2010 to June 2013, he was elected by Chiefs of British Columbia to lead the First Nations Summit as a member of the FNS Task Group.

 In that capacity, he advocated for First Nations seeking resolution of outstanding issues with the Crown. In that role, he was also a member of the BC First Nations Leadership Council working on common issues with BC First Nations, particularly the Crown’s duty to consult and accommodate, and advocated on their behalf with the governments of British Columbia, Canada and internationally at the United Nations. He is currently the Director of the Centre for Pre-Confederation Treaties and Reconciliation at Vancouver Island University and practices as a lawyer and negotiator across the country for First Nations governments. He lectures frequently at universities on Indigenous legal issues. 
_________________




Please go read the entire article.....


The Straight Goods

Cheers Eyes Wide Open


Thursday, February 25, 2016

British Columbia LNG Dies, Drip By Drip The LNG Fantasy Fades To Black

British Columbia LNG Spinfest Continues...AltaCorp and AltaGas Edition







February 25th/2016...Well well well......This article was originally posted on January 10th/2016.....Enjoy the re-read (Grant G)

In light of this breaking article posted in the Vancouver Sun...

 http://www.vancouversun.com/business/natural-gas/altagas+calls+halt+kitimat+project/11743911/story.html?__lsa=dcc5-8fa0


British Columbia LNG Spinfest Continues...AltaCorp and AltaGas Edition

Written By Grant

Here we go again.....I have written on many occasions ....Every time when bad news on the LNG front rears it`s ugly head out comes LNG spin articles from the BC Liberal spindoctors....We had a waste of words article from the British Columbia Oil and Gas commission about how they granted LNG Canada(Shell) a "key permit"....Then we had the energy industry captive regulator, also know as the NEB story about how they granted a 40 year export license....
We already beat those dead horse articles into the ground in this posting.

I wonder if this EXTRA LNG hype and spinning has to do with the upcoming February 2nd/2016 bi-elections......Or perhaps the world LNG picture is so bad the BC Liberals had to summon up a third spinfest?.....This latest spinfest article was front page news in the Vancouver Sun and The Province Newspaper...
And like the first two lame spinners, this one is just as bad....The latest LNG hyper is courtesy AltaCorp Capital...

Who is AltaCorp Capital?..They are a lending institution..An investment firm...AltaCorp Capital lends money to entities with the ability to pay them back..With big interest charges and balloon payments...So why would AltaCorp Capital of Alberta weigh in on British Columbia`s flailing LNG industry...?

Because the BC Liberals asked them to do it..



And you gotta love the title of their article..

2016 COULD be the year west coast LNG projects proceed despite depressed prices

That`s a hell of a headline, my favorite word in their title is "could"

What the hell does that mean?...

It means nothing....and if I`m not mistaken...Hasn`t AltaCorp Capital made other LNG predictions....I believe they have...Where did we read something about AltaCorp before..

Ah...I remember...AltaGas..One of Christy Clark`s sponsors for the ill fated Burrard bridge yoga event..you know, the BIG STRETCH..



Well I read an article about AltaGas....Here is a direct quote from it

"We continue to work with our partners at the DCL consortium to progress our LNG export plans pending resolution of the import duty on the barge."

Interesting don`t you think...AltaGas is wanting the import tax removed, what`s that all about...well, AltaGas is part of the Douglas Channel LNG proposal in Kitimat..But, the entire project is cited as..."a $500 million dollar project"...How come so cheap, how come it`s not $46 billion or $59 billion to build...Well, it`s a floating liquefaction barge, it`s being made in South Korea..They will merely barge it here and hook it up to a LNG pipeline...And gollee andy..They don`t even want to pay the Canadian import fee..
Not surprising..
Oh...That quote, that statement from AltaGas came at a investors meeting, as in the minutes of the meeting.



And that`s all they said about their LNG proposal for Kitimat..Pretty thin gruel for sure...
But...AltaCorp Capital had something to say about that project..
Here is what AltaCorp Capital said about AltaGas`s Kitimat proposal in September 2015.....(below was part of this Straight Goods article posted September 14th/2015) http://powellriverpersuader.blogspot.ca/2015/09/altacorp-capital-shines-up-their.html

I wrote on September 14/2015 
___________

In that latest LNG spinfest AltaCorp Capital has bumped Petronas proposed Prince Rupert project back up to a $36 billion dollar price tag....!!!!..And I quote...

"
That timeline, and AltaCorp`s prediction, Douglas channel would be the first LNG project to be built in the province-Leapfrogging Petronas larger $36 billion Pacific Northwest project"

So here we go again, Petronas`s proposed project jumps from $11.2 billion..$11.4 billion..to $36 billion to $46 billion Canadian and now back to $36 billion....It`s enough to make one dizzy, these spindoctors at AltaCorp Capital, in their Financial Post special report article(reposted in today`s The Province newspaper) must have forgot that Petronas`s proposed estimate was just last week in the Financial Post article was cited as a $11.4 billion dollar price tag....So, AltaCorp Capital, in their just released special report have made a $25 billion dollar error...And we are just getting started...Next I breakdown the spin line by line...

In that AltaCorp Capital report...
Calgary-A new report "dissents" from bearish predictions that no LNG terminals will be built on Canada`s West Coast, and instead says four natural gas export facilities will be greenlighted in the coming years.

The report by AltaCorp Capital, released Monday, predicts that AltaGas LTD. Shell Canada LTD, Exxon Moibile Corp and Petronas, will build massive facilities to super cool natural gas for export from B.C. Coast in the coming years, although not in the order that many industry observers have come to expect.

"while this may appear to be hopelessly optimistic, we would argue that the smaller Douglas Channel LNG project is on track for a positive(final investment decision) by the end of 2015, AltaCorp Capital analysts said,  

 __________

Did you read that?...
Appear...We would argue....hopelessly optimistic....A report by AltaCorp Capital...Talk about weasel words...This is a lender, not an energy company, it`s hooey and it gets much worse..Executives at AltaGas, which is leading the $500-million Douglas Channel proposal, have previously defied predictions that no liquefied natural gas terminals would be built in B.C. and recently said the company’s facility would be complete by 2018.

That timeline, and AltaCorp.’s predictions, would mean that Douglas Channel would be the first LNG project to be built in the province – leapfrogging Petronas’ larger $36-billion Pacific Northwest LNG project.

________

Now...AltaGas`s proposal, remember AltaGas...They were a major sponsor of Christy Clark`s failed Burrard bridge yoga-fest...

AltaGas`s proposal
($500 million) is not for a big LNG on-land terminal, thus the price, AltaGas`s proposal is for a floating LNG vessel, built overseas, little to no construction work, they merely need a land compressor, secure moorings and access to a natural gas pipeline, thus the small price-tag..
AltaGas`s  LNG Proposal is this...

"The LNG project will be developed in two phases. The first phase will consist of floating liquefaction facilities with the capacity to receive 110 Mmcfd of gas.
In the second phase of the LNG project, the joint venture plans to increase the gas export capacity of the project up to 1 Bcfd.
The parties involved in the LNG project are: AltaGas, Idemitsu Kosan of Japan, Exmar of Belgium, and French company EDF Trading."

 http://www.lngworldnews.com/altagas-files-for-lng-export-permit-with-neb/

____


AltaCorp`s second major faux pas...AltaGas LTD
is NOT PROPOSING A TERMINAL..They are proposing a floating facility that will be built entirely overseas... Then the AltaCorp Capital spin deflector gets really thick.

________

AltaCorp. now expects Pacific Northwest(Petronas), “the project that looked like it would proceed first,” to be built sometime after Douglas Channel and after Shell Canada Ltd.’s massive LNG Canada project, which would be built at a cost widely estimated between $25 billion and $40 billion.

The report cites a “preponderance of evidencesuggesting that Shell will decide in the first half of next year(2016) to build its massive project. Neither Shell nor AltaGas responded to requests for comment on construction timelines. Exxon’s Canadian subsidiary, Imperial Oil Ltd., did not immediately respond to a request for comment.

_______


Do you see the deflector spin...EXPECTS......TO BE BUILT AFTER.......A PREPONDERANCE OF EVIDENCE...SUGGESTING...Shell and ALTAGAS failed to respond when asked for a comment...WOW..Talk about spin, and it gets worse... 
_______

AltaCorp Capital analyst Dana Benner, one of the four authors of the report, said in an interview that the collapse in crude oil prices has weakened the demand for labour in Western Canada, and companies could use the slowdown as an opportunity.
“If oil stays at these levels, in fact, it will probably get weaker yet, in which case more people will free up, So it is actually a perfect environment for not only one but maybe a couple of these projects to go because of the talent pool,” Benner said.
_______

That information was revealed in this Straight Goods posting..


Wow...what a deal, a floating liquefaction barge that is built in South Korea gets transported to Kitimat and hooked up to a pipeline..That must be at least 30,000 jobs...eer..I mean 30 jobs..

And no import tax..
____________

Well well well....If anyone is interested in the most accurate reporting on the world LNG scene and in particular as to how it relates to British Columbia...You can read this..

British Columbia LNG Industry, The Last Gas(P)....A Straight Goods Special (updated, January 1st 2016)

 
I hope you have better luck with your LNG predictions AltaCorp.....I mean, if AltaGas doesn`t proceed, they`ll have no need to BORROW MONEY from you...Eh AtlaCorp?
I think I`ll just drift away and dream of better days ......Dream of a time and place where the gaggling from the gruesome four stops....Oh to dream

The Straight Goods

Cheers Eyes Wide Open

British Columbia LNG Spinfest Continues...AltaCorp and AltaGas Edition







February 25th/2016...Well well well......This article was originally posted on January 10th/2015.....Enjoy the re-read (Grant G)

In light of this breaking article posted in the Vancouver Sun...

 http://www.vancouversun.com/business/natural-gas/altagas+calls+halt+kitimat+project/11743911/story.html?__lsa=dcc5-8fa0


British Columbia LNG Spinfest Continues...AltaCorp and AltaGas Edition

Written By Grant

Here we go again.....I have written on many occasions ....Every time when bad news on the LNG front rears it`s ugly head out comes LNG spin articles from the BC Liberal spindoctors....We had a waste of words article from the British Columbia Oil and Gas commission about how they granted LNG Canada(Shell) a "key permit"....Then we had the energy industry captive regulator, also know as the NEB story about how they granted a 40 year export license....

We already beat those dead horse articles into the ground in this posting.


I wonder if this EXTRA LNG hype and spinning has to do with the upcoming February 2nd/2016 bi-elections......Or perhaps the world LNG picture is so bad the BC Liberals had to summon up a third spinfest?.....This latest spinfest article was front page news in the Vancouver Sun and The Province Newspaper...
And like the first two lame spinners, this one is just as bad....The latest LNG hyper is courtesy AltaCorp Capital...


Who is AltaCorp Capital?..They are a lending institution..An investment firm...AltaCorp Capital lends money to entities with the ability to pay them back..With big interest charges and balloon payments...So why would AltaCorp Capital of Alberta weigh in on British Columbia`s flailing LNG industry...?

Because the BC Liberals asked them to do it..



And you gotta love the title of their article..

2016 COULD be the year west coast LNG projects proceed despite depressed prices

That`s a hell of a headline, my favorite word in their title is "could"

What the hell does that mean?...

It means nothing....and if I`m not mistaken...Hasn`t AltaCorp Capital made other LNG predictions....I believe they have...Where did we read something about AltaCorp before..

Ah...I remember...AltaGas..One of Christy Clark`s sponsors for the ill fated Burrard bridge yoga event..you know, the BIG STRETCH..



Well I read an article about AltaGas....Here is a direct quote from it

"We continue to work with our partners at the DCL consortium to progress our LNG export plans pending resolution of the import duty on the barge."

Interesting don`t you think...AltaGas is wanting the import tax removed, what`s that all about...well, AltaGas is part of the Douglas Channel LNG proposal in Kitimat..But, the entire project is cited as..."a $500 million dollar project"...How come so cheap, how come it`s not $46 billion or $59 billion to build...Well, it`s a floating liquefaction barge, it`s being made in South Korea..They will merely barge it here and hook it up to a LNG pipeline...And gollee andy..They don`t even want to pay the Canadian import fee..

Not surprising..

Oh...That quote, that statement from AltaGas came at a investors meeting, as in the minutes of the meeting.



And that`s all they said about their LNG proposal for Kitimat..Pretty thin gruel for sure...

But...AltaCorp Capital had something to say about that project..

Here is what AltaCorp Capital said about AltaGas`s Kitimat proposal in September 2015.....(below was part of this Straight Goods article posted September 14th/2015) http://powellriverpersuader.blogspot.ca/2015/09/altacorp-capital-shines-up-their.html

I wrote on September 14/2015 

___________

In that latest LNG spinfest AltaCorp Capital has bumped Petronas proposed Prince Rupert project back up to a $36 billion dollar price tag....!!!!..And I quote...

"
That timeline, and AltaCorp`s prediction, Douglas channel would be the first LNG project to be built in the province-Leapfrogging Petronas larger $36 billion Pacific Northwest project"

So here we go again, Petronas`s proposed project jumps from $11.2 billion..$11.4 billion..to $36 billion to $46 billion Canadian and now back to $36 billion....It`s enough to make one dizzy, these spindoctors at AltaCorp Capital, in their Financial Post special report article(reposted in today`s The Province newspaper) must have forgot that Petronas`s proposed estimate was just last week in the Financial Post article was cited as a $11.4 billion dollar price tag....So, AltaCorp Capital, in their just released special report have made a $25 billion dollar error...And we are just getting started...Next I breakdown the spin line by line...

In that AltaCorp Capital report...
Calgary-A new report "dissents" from bearish predictions that no LNG terminals will be built on Canada`s West Coast, and instead says four natural gas export facilities will be greenlighted in the coming years.

The report by AltaCorp Capital, released Monday, predicts that AltaGas LTD. Shell Canada LTD, Exxon Moibile Corp and Petronas, will build massive facilities to super cool natural gas for export from B.C. Coast in the coming years, although not in the order that many industry observers have come to expect.

"while this may appear to be hopelessly optimistic, we would argue that the smaller Douglas Channel LNG project is on track for a positive(final investment decision) by the end of 2015, AltaCorp Capital analysts said,  

 __________

Did you read that?...
Appear...We would argue....hopelessly optimistic....A report by AltaCorp Capital...Talk about weasel words...This is a lender, not an energy company, it`s hooey and it gets much worse..Executives at AltaGas, which is leading the $500-million Douglas Channel proposal, have previously defied predictions that no liquefied natural gas terminals would be built in B.C. and recently said the company’s facility would be complete by 2018.

That timeline, and AltaCorp.’s predictions, would mean that Douglas Channel would be the first LNG project to be built in the province – leapfrogging Petronas’ larger $36-billion Pacific Northwest LNG project.

________

Now...AltaGas`s proposal, remember AltaGas...They were a major sponsor of Christy Clark`s failed Burrard bridge yoga-fest...

AltaGas`s proposal
($500 million) is not for a big LNG on-land terminal, thus the price, AltaGas`s proposal is for a floating LNG vessel, built overseas, little to no construction work, they merely need a land compressor, secure moorings and access to a natural gas pipeline, thus the small price-tag..
AltaGas`s  LNG Proposal is this...

"The LNG project will be developed in two phases. The first phase will consist of floating liquefaction facilities with the capacity to receive 110 Mmcfd of gas.
In the second phase of the LNG project, the joint venture plans to increase the gas export capacity of the project up to 1 Bcfd.
The parties involved in the LNG project are: AltaGas, Idemitsu Kosan of Japan, Exmar of Belgium, and French company EDF Trading."

 http://www.lngworldnews.com/altagas-files-for-lng-export-permit-with-neb/

____

AltaCorp`s second major faux pas...AltaGas LTD
is NOT PROPOSING A TERMINAL..They are proposing a floating facility that will be built entirely overseas... Then the AltaCorp Capital spin deflector gets really thick.

________

AltaCorp. now expects Pacific Northwest(Petronas), “the project that looked like it would proceed first,” to be built sometime after Douglas Channel and after Shell Canada Ltd.’s massive LNG Canada project, which would be built at a cost widely estimated between $25 billion and $40 billion.

The report cites a “preponderance of evidencesuggesting that Shell will decide in the first half of next year(2016) to build its massive project. Neither Shell nor AltaGas responded to requests for comment on construction timelines. Exxon’s Canadian subsidiary, Imperial Oil Ltd., did not immediately respond to a request for comment.

_______
Do you see the deflector spin...EXPECTS......TO BE BUILT AFTER.......A PREPONDERANCE OF EVIDENCE...SUGGESTING...Shell and ALTAGAS failed to respond when asked for a comment...WOW..Talk about spin, and it gets worse... 
_______

AltaCorp Capital analyst Dana Benner, one of the four authors of the report, said in an interview that the collapse in crude oil prices has weakened the demand for labour in Western Canada, and companies could use the slowdown as an opportunity.
“If oil stays at these levels, in fact, it will probably get weaker yet, in which case more people will free up, So it is actually a perfect environment for not only one but maybe a couple of these projects to go because of the talent pool,” Benner said.
_______

That information was revealed in this Straight Goods posting..


Wow...what a deal, a floating liquefaction barge that is built in South Korea gets transported to Kitimat and hooked up to a pipeline..That must be at least 30,000 jobs...eer..I mean 30 jobs..

And no import tax..

____________

Well well well....If anyone is interested in the most accurate reporting on the world LNG scene and in particular as to how it relates to British Columbia...You can read this..

British Columbia LNG Industry, The Last Gas(P)....A Straight Goods Special (updated, January 1st 2016)



I hope you have better luck with your LNG predictions AltaCorp.....I mean, if AltaGas doesn`t proceed, they`ll have no need to BORROW MONEY from you...Eh AtlaCorp?




I think I`ll just drift away and dream of better days ......Dream of a time and place where the gaggling from the gruesome four stops....Oh to dream 

The Straight Goods

Cheers Eyes Wide Open




Christy Clark's BC Liberals Have Just Confirmed Through Their Actions That Their 2013 Election Promise of a $trillion Dollar LNG Export Industry Has Already Died!

 

The below article is very telling.......Hoegh LNG has for financial reasons abandoned participating in any floating LNG facilities(FLNG) and Hoegh LNG has abandoned participating in any new LNG land-based export terminals...Hoegh will concentrate soley on FSRU(floating storage regasification units).....Hoegh's reasons are purely self-serving, they want to survive..

Read what Hoegh LNG is saying....The LNG market is over-saturated with excess gas and financial markets are reeling, bankers are leery of lending money for money losing LNG terminals....China is in the midst of a longterm slowdown,...Japan is firing up their remaining nuclear plants and longterm LNG buying contracts are being inked for less than $6 dollars per MM BTUs...

 Shell Canada is not going to build their proposed British Columbia LNG terminal nor is Petronas..

However, neither Shell Canada or Petronas will officially abandon their proposals...It's a game of cat and mouse and political gamesmanship...Both projects will be deferred until 2017...At least that's what those companies will tell British Columbia...

 An insider familiar with both projects has told me off the record that Rich Coleman has literally begged these companies to keep their on paper proposals alive until the May/2017 election...The companies are complying, so far at least.....My friend has also informed that both of these projects are dead...

 Furthermore....The pathetic announcement yesterday by the BC Liberal Government, they are placing $100 million British Columbia tax dollars into the LNG prosperity fund, they are calling it seed money..

Well, Vaughn Palmer won't write the truth, not one B.C. mainstream media will call-out these BC Liberal grifters for what they are....Con Artists..

Even when the truth is staring them in the face.....If Rich Coleman and Christy Clark were really positive and convinced that an LNG export industry was going to happen and $billions of dollars were going to flow into the much-vaunted prosperity fund....If they really believed that was true they wouldn't stoke the prosperity fund with the $100 million dollar that was raised by increasing BC's MSP fees... Only a bunch of sadsack losers would play this pathetic LNG scamming game..

However....The BC Liberals have the corporate controlled mainstream media toilet trained, they are mere janitors, BC Liberals shit their pants and poop all over the bathroom floor and Michael Smyth..Tom Fletcher, Vaughn Palmer, Les Leyne come a runnin with scrub brushes, mop and pails and toothbrushes, eager beavers to clean up the soiled messes left by BC Liberals, I'm being kind....The media itself is the real enemy here....If they did their job, you know, the job of fact-finding and truthful reporting these BC Liberal crimes would not have happened....Those media personalities do have to look in the mirror...What they have done will haunt their souls to the grave...

 ________________ 

Höegh LNG on Tuesday informed it has made a decision to put all FLNG activities on hold and focus its resources and capital into the FSRU business. 

According to Höegh LNG’s statement, the FSRU business is where the company sees the highest return on invested capital and the most promising market prospects.
The decision comes due to the oversupplied LNG market and a drop in energy and financial markets which have jeopardized investment in new LNG production facilities, including FLNG.

Höegh LNG said it will complete its obligations towards existing customers but will not engage in any new FLNG developments.
However, the company said FSRU market conditions are still encouraging due to new LNG supply growth and increased activity in the segment, both from the producers as well as LNG importers and downstream gas consumers.

Sveinung J.S. Støhle, Höegh LNG’s president and CEO said, given the overall market outlook for LNG and the current state of the financial markets, we believe focusing solely on FSRUs is financially and commercially the best strategy for Höegh LNG.”

 http://www.lngworldnews.com/hoegh-lng-halts-flng-business-focuses-on-fsrus/

__________________

 Need more....LNG use is on the decline.....

_____________


BANGKOK (Reuters) – Thailand’s PTT Pcl plans to delay its purchase of liquefied natural gas (LNG) from Shell Eastern Trading (PTE) and BP Singapore PTE Ltd due to weaker-than expected domestic demand, its executive said on Tuesday.

PTT is currently in discussions with the two suppliers regarding the delay, Noppadol Pinsupa, senior executive vice president for PTT’s gas business unit, told reporters.
PTT, the country’s top energy firm, expects LNG imports of about 2.7 million tonnes this year, lower than a prior estimate of almost 5 million tonnes, the executive added. Thailand imported 2.6 million tonnes of LNG in 2015, he said.

 http://www.lngworldnews.com/thai-ptt-to-delay-lng-purchase-from-shell-bp-due-to-weak-demand/

___________

How about the LNG disaster down under?????(Australia)

______________


Australian LNG player Woodside reported on Wednesday a 99 percent decline in 2015 net profit, hit by $1.1 billion in asset impairments due to falling oil and gas prices.

Woodside’s net profit in 2015 dropped to $26 million, down from $2.41 billion in the year before. Woodside last time posted a loss in 2002.

Revenue from operations decreased 32 percent to $5.03 billion, the company said. Woodside announced a full-year dividend of $1.09.
The Australian LNG company reaffirmed its 2016 production target range of 86 to 93 MMboe.

Browse FLNG project

Woodside said last year that its Browse FLNG project in Australia would have been break even with oil prices “around $50-$55 a barrel”. However, in the meantime oil prices fell to near 12-year lows below $35 a barrel.

The Browse FLNG development concept is based on three FLNG facilities utilising Shell’s technology to commercialise the Brecknock, Calliance and Torosa fields located approximately 425 kilometres north of Broome in Western Australia.

The Browse FLNG partners had planned to take a final investment decision (FID) on the giant project in the second part of this year.

“I would expect the joint venture partners will meet a number of times as we consider our final investment decision on Browse,” 
Woodside’s CEO Peter Coleman told reporters on Wednesday.


According to Coleman, “this is not the time to be reckless at all with respect to capital deployment. And this is not the time to make bets the future is going to be rosier just simply because we hope it will be.”

“What’s not clear to me today is are we in the middle of a fundamental structural change in the industry or is this just a short-term disruption, where we’ll go back to long term trends in a relatively short period of time,” the CEO said.
“It’s with that sort of eye that we’re looking at all of our investment decisions today,” Coleman added.

 http://www.lngworldnews.com/woodsides-profit-nosedives-as-low-oil-prices-continue-to-bite/

_____________

Need more.....Japanese utilities are racing at speed to restart their nuclear fleet...The reason...Cheap nuclear power and the financial advantage they have...it's all about the money...meaning not giving money to the LNG exporting vultures..

_____________

Japan’s opening of its power market is pressuring utilities to get nuclear plants back on line quickly to bolster finances in the face of potentially greater competition, according to Bloomberg New Energy Finance.

When Japan’s retail power market fully liberalizes in April, utilities that have nuclear power plants online, like Kansai Electric Power Co., will have an economic advantage, according to Miho Kurosaki, a Tokyo-based analyst with BNEF. Nuclear power is the cheapest form of electricity generation, allowing producers to cut rates and edge out new entrants and old rivals.

Utilities could resume operations at 21 of Japan’s 43 functioning reactors by the end of 2017, according to one scenario forecast by BNEF. As many as 28 reactors could restart by the end of next year, according to BNEF’s most ambitious view. So far, three reactors have restarted under post-Fukushima safety rules.
Utilities want to restart as soon as possible as far as retail liberalization is concerned,” Kurosaki said by e-mail. “

 http://www.bloomberg.com/news/articles/2016-02-15/japan-utilities-seen-pushing-for-atomic-restarts-as-reform-looms

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BC LNG is dead, kaput.....Only the brainwashed still believe in the BIG LIE...and the corrupt bought B.C. Media....Right Keith Baldrey?

 





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Wednesday, February 24, 2016

Christy Clark`s Pink Shirt Hypocrisy Exposed(Bitch Alert)




 (originally posted February 25th/2015)

This pink shirt day thing to combat bullying is a great thing, it's well overdue, bullying has been going on too long, and I`m personally in favour of it, however, when the likes of Stephen Harper and Christy Clark try to make political hay with it, when they pretend to be gracious and adherent to the cause is where I draw the line...

The only way to handle bullies is to bully them back, so on behalf of every British Columbia student, teacher, parent and worker, this one is for you..

Go To Hell you nasty bitch,  Christy Clark, you and your party are not fit to govern, you are a spoiled brash bitch with nary a functioning brain cell, you lead a party of miscreants and braindead losers..The list too long to cite in its entirety, ....Fassbender, Lake, Mcrae, Bennett, Stone, a bunch of pathetic elected losers who don`t give a shit about the people of British Columbia, they only about those who write cheques to the BC Liberal Party!

First off....Yesterday, the day before pink shirt day Judy Darcy was rising to ask a question in our BC legislature when Advanced education minister Andrew Wilkinson shouted..

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Thought I'd seen it all! But as I rose 2 ask a ? in BCLeg, Lib Adv.Ed Minister heckled "cluck, cluck, cluck." UNCLUCKINGBELIEVABLE!


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Andrew Wilkinson, a trained lawyer now representing advanced education and he is shouting out disparaging comments, Judy Darcy asking questions in regard to the corruption Amir Virk, the previous advanced education minister was complicit in...

Vaughn Palmer wrote an article about Christy Clark a couple of weeks ago, the gist of his article I`m not too sure, Vaughn Palmer didn`t reference pink shirt day in that article, he should have..

Christy Clark is a rude, nasty bitch, she doesn`t hesitate to cast aspersions, insults, name-calling on anyone, Christy Clark even throws her own son Hamish under the bus to advance her bile agenda..

From Vaughn Palmer, cut n pasted in its entirety..

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VICTORIA — While the cherry trees were blooming in the provincial capital this week, Premier Christy Clark reminded the crowd at a party fundraiser how she’s had to endure some cold weather visiting other parts of the province.

How cold was it, premier?

“So cold that I saw a New Democrat with his hands in his own pockets.”

Yes, live from the Victoria Conference Centre, it’s Premier Stand-up.
Anybody here listen to CBC Radio? “Put your hands up, don’t be embarrassed, I do when I’m in the car.”

So the other day she’s listening and she hears a promotion for something called “the Irrelevant Show.”

“They’ve gone too far,” she fumed, purporting not to realize that it was the name of a hit comedy show. “Using my tax dollars for an entire hour on John Horgan.”

Budda-boom.

Say, did you hear that the provincial museum is preparing a new show dedicated to the 1858 gold rush in the Fraser Canyon?

Yes, it’ll be installed right opposite the gallery with the dinosaur — “the Horgan-o-saurus another species that failed to evolve and adapt over the years.”

Budda-bing.

She’s got a million of ‘em.

Her Liberals have been trying to factor the workload for the 30 or so New Democratic Party MLAs. Four question periods a week, each 30 minutes long. A few minutes work a week apiece, allowing for answer time, Clark reckons.

Less than that if you aren’t one of John Horgan’s stars, she continues, riffing on the NDP leader’s ill-advised reference in an end-of-last-year interview to the five MLAs who were performing the best, in his estimation.

Ouch, five times over.

All those media complaints about the boring throne speech?

Not her job to help reporters come up with a news story, she says, baiting the news media as effectively as she does her political opponents.
Besides, she tells the crowd at the fundraiser, boring works when it comes to managing public finances.
Think of all the things that would be exciting: “like a train wreck.”

Neither is it her job to come up with that kind of excitement. You want a train wreck, “just look at the NDP.”

The partisan crowd ate it up, as one would expect. But party leader Clark has been playing the New Democrats for laughs in public speeches as well.
In an address delivered as premier to the annual convention of the Truck Loggers Association last month, Clark delivered a comic set piece, beginning with a less-than-flattering reference to her son, Hamish.

My son is 13, and when you look at a 13-year-old, a teenager, generally, I don’t know about you, but the first thing that comes to my mind is lazy. Recently ... I said to him: ‘Hey, listen. You spilled that water on the couch. Can you clean it up, please?’ He looked at me, and he went: ‘You know, Mum, I’m pretty sure that that water is going to dry on its own.’ I have this fear — which other parents tell me he’ll get over it — that he’s just too lazy. He’s got to learn a work ethic.”
At this point, you might be thinking if mom keeps talking this way in public, poor Hamish is going to need a therapist. But that was just the set-up.
“Somebody said to me, look, you know, here’s the thing: Your son is a teenager and it’s just a natural thing for teenagers not to really have that get-up-and-go. Lots of times they’re lazy. But you know, it’s okay now.”

Ready for the punchline?

When your son is 31 years old and he’s still sitting on the couch and he’s asking you to clean up after him and he doesn’t want to get up and do anything, and he doesn’t have any ambition for the future, and he just really, really doesn’t have any expectations for himself. ... By the time he’s 31 years old, if he’s still doing that, he is no longer a teenager. He’s a New Democrat.”
The joke worked so well that she repeated it the following week to the Association for Mineral Exploration B.C., changing only the laugh line: “When he’s 31 years old and he’s still doing that, he is not a teenager anymore; he’s a socialist.”

Any reaction, Mr. Horgan?

“I can’t probe the mind of the premier any better than you can,” the NDP leader told reporters when the comment was relayed to him. “But I can say that it’s certainly disrespectful to 31-year-olds and it is also disconnected with the reality of our time. More and more children are having to go home because they can’t find the opportunities that their parents could find.”

Lame, when the premier’s whole objective is to provoke a laugh from her supporters and a defensive reaction from her opponent.

Horgan played it better this week, when he dismissed the throne speech with a one-liner — ”that was a half-hour that none of us will ever get back” — followed by the more serious and to the point: “People in B.C. are saying, I’m sure, ‘Goodness me, didn’t we just elect these people? Do they not have any ideas that are important to us?’ ”

As a new leader, Horgan is struggling to counter Clark’s turn-on-a-dime ability to do witty, visionary, and partisan in almost the same breath. Naturally, he’ll draw on advisers, researchers and colleagues alike. He may also need the services of a good joke writer, given the way she plays the game.

vpalmer@vancouversun.com

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Christy Clark, queen bitch and bully, it`s not the firstime Christy Clark has thrown her son Hamish under the bus...

 http://powellriverpersuader.blogspot.ca/2013/04/christy-clark-throws-hamish-under.html



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Friday, February 19, 2016

Ezra Levant, Brian Lilley, Sheila Gunn Reid, The Voices of the Corporate Conservative Party of Canada



Written by Grant G


I must admit my surprise when The National Post...Globe and Mail..Calgary Herald and even more newspapers ran to the defense of Ezra Levant....Front page stories to boot..

Rachel Notley made a mistake in banning the Rebel from Government pressers...I understand Rachel Notley's frustration, Ezra Levant lies, distorts and spews bile hatred every time he opens his mouth or keyboard..

Alberta's woes aren't the fault of NDP government, it's the price of oil yet somehow the racist hatemongers believe the NDP government caused oil to crash in value...

Oh indeed, the world glut of oil at the same time China stopped building ghost cites,  shale oil, tight oil, Iran sanctions lifted and boy oh boy does Iran want to sell sweet crude...Every country wanting to sell more oil as oil consumption and demand wane...

Alberta tar oil, mined oil or injected steam into the ground to liquefy buried oil, they all have one thing in common...It's expensive oil to process...What does Ezra Levant and the oil industry want...

Pipelines west, many pipelines west, pipelines east, pipelines south and north to the now not frozen arctic..

Ezra Levant and the oil industry's answer to the world glut of oil is to add millions and millions of barrels of oil into the already saturated market..

I'm not a rocket scientist but that doesn't sound like a prudent economic plan....And..there are no oil companies willing to dig up, dilute and pipe any oil at the current price level...The same scenario exists in the world LNG market..too much gas for not enough available customers....Who is prepared to not sell their petro product so other petro sellers can prosper...no one...Only low-cost producers will survive in this current scenario..

That makes Canadian LNG and Alberta tar-goop oil stranded assets, and for many, for the majority, that is a good thing...Canada's petro industry is a sunsetting  industry..

However, this posting isn;t about the new clean economy, this article is about how sad the mainstream corporate media has become...Vancouver Sun..Calgary Herald, National Post no longer produce journalism....They engage in what I call "Goebbelism"...As in Joseph Goebbels, Adolf Hitler's chief propagandist...

Postmedia's newspaper chain has been hijacked by the corporate sector, even once respected columnists/journalists like Michael Smyth and Vaughn Palmer in recent times have become irrelevant,,..Michael Smyth writes nothing, no thought, inane drivel and as for Vaughn Palmer, he merely quotes BC Liberal Government ministers, matters not if those BC Liberal ministers lie or distort,,,,Sadly Vaughn Palmer has found a way to lie to the public using other people's words..

As for rightwing corporate media running to the defense of so-called journalism and or freedom of speech, admirable indeed, that is if the journalist of note was a worthy person...Ezra Levant deserves no such rescue,,

Robin Mathews was denied media accreditation and was forbidden to report the truth about the BC Rail trial.....The Gordon Campbell media juggernaut won the day...Keith Baldrey had no qualms in denying Robin Mathews the freedom of speech....Yet all of a sudden Keith Baldrey found the light when it comes to Ezra Levant..

Robin Mathews was never convicted of slander, libel, multiple times convicted of libel and slander like Ezra Levant......Robin Mathews didn't accuse environmentalists of deliberately causing the Lac Megantic vapourization like Ezra Levant did, oh indeed, Ezra Levant and Greg Renouf made complete asses out of themselves

 Robin Mathews didn't call Adrian Dix's wife a beatnik on SunNews...Remember the SunNews network(now defunct)...Their prime-time viewing audience Canada wide was a mere 5000 people, even as Stephen Harper and CAPP lavished oil dollars and Federal Government ad dollars on Sunnews they still couldn't garner any viewers..

What was Adrian Dix's wife sin that so outraged Ezra Levant?...She doesn't have a cellphone, reads poetry and takes transit...Oh the humanity..

Robin Mathews never had to beg on air for money to pay his legal fees like Ezra Levant has done on many occasions..

I don't recommend to anyone that they check out Ezra Levant's Twitter feed, however, I'm convinced that if it was lefty person threatening a rightwing government, or big oil and corporations, along with racebaiting the RCMP would swoop in and arrest the person for hate-speech and racial fearmongering in a New York minute......But somehow the RCMP,  Postmedia and corporate Canada is comfortable with Ezra Levant's hatred and racebaiting..

The face of Conservatism...The face of the Conservative Party of Canada...The face of the Conservative Party of Alberta,,,Ezra Levant, Brian Lilley and Sheila Gunn Reid are the chosen ones...

Maybe a few years ago this would have bothered me but not today, not in 2016.....The oil and LNG industry is in sunset mode...raping and pillaging the earth is oh so 20th century..

Post Media...The Vancouver Sun...Global BC,,,Calgary Herald...National Post...

I'm glad those corporate entities have chosen their heroes, their spokespersons.. ..

Because, for decent, forward thinking modern day Canadians need the constant reminder of why on mass we voted out The Stephen Harper Conservative Party of Canada....

Conservatism, corporate conservatism,..... with spokespersons and pundits like Ezra Levant, Brian Lilly and Sheila Gunn Reid singing the praises of corporate conservatism a calm cool relaxing feeling overwhelms us.....

That and the vision of the Conservative Party of Canada reduced to fourth party status will warm Canadian's kindred spirits..



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Friday, February 12, 2016

Time For The End Of ‘Nice”. Time For Political Will.




Time For The End Of ‘Nice”.  Time For Political Will.




Written by Robin Mathews
 

One of the greatest errors of our time and place may well be the “error” revealed in Murray Dobbin’s post of Feb. 5, 2016, about the TPP (Trans Pacific Partnership) trade deal. Rich in information, the article uncovers  real destruction of Canadian legislation. And - more importantly – it points to Canadian legislation which is knee-capped before even being made visible as possible, positive direction for the country to take. Murray Dobbin uses as evidence of the destructiveness of Investor State Dispute Settlement provisions the (signed 1992) NAFTA (North American Free Trade Agreement).

So what is Murray Dobbin’s possible “greatest error of our time and place?”

It is his ‘gentlemanly’, his ‘reasonable’, his ‘moderate’ approach to an (apparent) act of Liberal government sell-out.  It is his willingness, by his ‘balanced’, restrained’ style, to excuse the Liberal cabinet and to (therefore) water down the (already operating) gigantic attack upon the right of Canadians to legislate for the good of the people and the country.

Dobbin takes the position that Trade Minister Chrystia Freeland (and, therefore, Justin Trudeau and the rest of the cabinet) “seems to be either ill-informed or misled” about the Investor State Dispute Settlement (ISDS) provision in the TPP which (experience shows) not only prevents positive legislation from being formulated, but permits punitive, expensive judgements against existing sovereign legislation that is claimed to obstruct profit-making by foreign interests in Canada.

Significantly, challenges have arisen most frequently to Canadian environmental protection laws/regulation and – what are closely connected – resource management laws/regulations (neither of which, at this time, are sufficiently demanding).

Enough!  The good manners or naivete of anyone which would allow that person to entertain the fiction that Trade Minister Freeland, Justin Trudeau, or anyone else in the Liberal cabinet might not really know what Investor State Dispute Settlement clauses mean … is simply preposterous.  Not believable. [Remember that historically the Liberal Party has often been the party of Free Trade/integration with the U.S.A.]

Let us not forget for a moment that – though Brian Mulroney signed the North American Free Trade Agreement in 1992 – Jean Chretien, Liberal Party opposition leader, promised to re-negotiate NAFTA, and if re-negotiation was denied To Get Out Of It Altogether.  When Chretien was prime minister after 1993, the U.S.A. refused to renegotiate NAFTA.
Chretien collapsed completely, broke his election promise, and negotiated (at U.S. wish?) two supplements to NAFTA. The history of Free Trade with the U.S.A. is long … and dirty.

Free Trade deals with the U.S.A. have never been in Canada’s interest. For decades the two countries had many, many single-issue, mutually beneficial trade agreements. From the beginning Canadians knew Big Package Deals were toxic for Canada. Our first prime minister knew that well.

In the 1891 election, when the Liberal Party pushed hard for “Commercial Union” with the U.S.A., aging John A. Macdonald worked himself to death (literally) to defeat the Sell-Outs. When Free Trade with the U.S.A. was surfaced in the 1940’s, to Mackenzie King’s credit he not only rejected the idea but said he would come out of retirement to fight it if the idea was proposed by anyone.

Liberal prime minister Justin Trudeau has just had the TPP signed … and promises a full debate… before ratification ….
Very clearly, Canadians are especially threatened by the new moves (historically) of large multi-national corporations backed by expansionist governments like the U.S.A., China, the European Union … to erase the power of Canadian government (by introducing a wholly new form of Private Corporate Court System), to peonize Canadians, and to pillage the wealth of the country … unchallenged.  In that situation Canadians must be certain, militant, unswerving, uncompromising, and aggressive facing Canadian law-makers and any others involved in what is – to put the matter simply – the wholesale sell-out of the Canadian people and its peaceable future.  There is no room for nice’.

It is no accident that Canada’s environmental law is one of the most attacked under Free Trade mechanisms.  That fact leads directly to The Disaster – called the November/December COP 21 Paris Environmental, 13 day (and night) Conference. Elizabeth May and Carol Linnett write about it ‘nicely’, ‘reasonably’, in a ‘balanced’ and ‘restrained’
way.  In the Jan/Feb issue of The Watershed Sentinel May calls the Paris Agreement (agreement?) “an historic and potentially life-saving agreement”. Ms. Linnett does “if” and “should be” and “important conversation”.  Ms. May’s potentially life-saving” is so far away and Ms. Linnet’s call for action so nice, serious people should fiercely reject the stance of both writers.

The Paris Environmental Conference was, quite simply, a victory for The One Per Cent … the very people who, under NAFTA, have attacked (and under any other like trade agreement will attack) Environmental Protection Laws and Regulations in Canada and anywhere else on the planet where it is possible to do so. They are the people who (for profit) are decimating the Middle East and watching the murder of millions in a Public Relations Orgy of almost unbelievable magnitude…as the Environment there becomes a torture chamber for a huge, innocent population.

At Davos, Switzerland just a few weeks after The Disaster at the Paris Environmental Conference, the representatives of The One Per Cent (The World Economic Forum, Jan. 23-26, 2016) met.  Concerned about Climate Change? Almost not at all.  According to Benjamin Hulac, since 2011, Climate Change has been considered there to be among the top five significant economic threats.  Lucy P. Marcus observes that the body meeting this year at Davos revealed (on all matters) “the inability or refusal to recognize the need for course correction.”  A repeated concern was of looming populism, or in other words growing global awareness of the reality: a criminal One Per Cent looting the world.

Whatever government does in Canada, Canadians must – more and more – face the gigantic threats: economic, environmental, and phoney-judicial of the present gangster regimes fighting for dominant power on the planet.  Canadians must say NO to the TPP, must attack head-on the Orgy of Public Relations lying intended to lead us to give up the wealth of Canada to gangsters. The Globe and Mail, just a few days ago, had a page-long editorial praising the TPP, and urging its acceptance – I don’t remember a word about the Investor State Dispute Settlement provision! (Canadian press and media sell-out goes on full-speed. O Canada!) Canadians must help to organize the 99% so it can work to de-activate and strip the wealth of the 1%, which presently possesses hugely disproportionate (often criminal) power in the world. That stripping has to be done before it is too late.

And the Canadians who write for other Canadians?  They should be repeating the final two sentences in the last paragraph over and over again for their readers. Perhaps, as well, they should begin suggesting forms of resistance.  A many country organization to prevent the next meeting of The World Economic Forum? If the TPP is ratified by the majority Liberal parliament, perhaps the Canadians who write for other Canadians should  - well in advance - suggest things like a major, on-going, relentless Parliament Hill Protest – with wholly new tactics…to bring down the Liberal government. Elsewhere in Canada how about wildcat stopping of train traffic?  After all, foreign and local representatives of The One Per Cent now control almost all railway operation in Canada.  Stopping rail traffic in Canada would be a way to target – directly – The One Per Cent ... and to make more Canadians aware of the stealth takeover of Canadian wealth, incentive, and sovereign government by people who see Canada as a cash cow, to milk … and toss aside.

Foolish ideas? Perhaps.  But at the present time almost all of the Canadians who write for other Canadians are doing everything but really facing the critical state of economic banditry, environmental desecration, and global corporate (and government) collusion to render Canada and the rest of the planet uninhabitable profit-fodder. 

Being nice in Canada often means wanting to be comfortable, wanting to please criminals in power.  That is the character – I am sure - of almost all writers in the so-called “Mainstream Press and Media”. Writers like Murray Dobbin and the others I refer to as ‘Canadians writing for Canadians’ are NOT in that category. So maybe its time for them to stop “being nice”. Maybe it’s time for them to suggest other Canadians, too, stop being nice….


Written by Robin Mathews

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Political will....No such animal, the only thing that motivates a government to act in the best interest of the people is when they fear for their own survival....Grant G..February 12th/2016


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Tuesday, February 9, 2016

Christy Clark's LNG Fantasy, The Day The Spin Cycle Went Out Of Balance



Today the Christy Clark led BC Liberal Party will present another delusional throne speech...

The Site C dam proposal will be front and center in the throne speech, false assumptions will made in trying to justify the $15 billion dollar project...$15 billion dollars BC Hydro will have to borrow to build the monstrosity..

Site C dam...Alberta will not buy that power...There is no transmission line even available, Christy Clark wants the federal Government to pay for the transmission line from Site C to Alberta...The feds won't pay for the line....Christy Clark's throne speech will also carry on with promoting her LNG delusions..

Shell Canada LNG will not be proceeding with their now-delayed terminal proposal...Petronas is set to cancel their project in early March/2016..

Christy Clark, despite balanced budget claims has racked up $30 billion dollars of public debt in her short reign as premier..

Unfortunately British Columbia's legislative reporters and scribes have failed in their role as journalists and public good guardians...These people, Tom Fletcher, Keith Baldrey, Vaughn Palmer and Michael Smyth have morphed into partisan BC Liberal spindoctors..

Anyway...This posting is short and simple...

Pakistan has just signed a longterm LNG buying contract with the world's largest LNG exporter Qatar..The price is so low that it completely shuts out Shell Canada and Petronas...Those companies can't frac the gas and deliver it to the westcoast for the "new normal LNG price"..

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Under the 15-year deal, Qatar will supply 3.5 million tonnes per annum of LNG to Pakistan, Reuters reported on Monday.


A report by Pakistan Today says that the country negotiated a “very attractive price” of $5.35/MMBtu as compared to $$6.56/MMBtu which was agreed in 2013, due to declining oil and gas prices.

Pakistan’s Economic Coordination Committee recently approved Pakistan State Oil’s 15-year LNG sale and purchase agreement with Qatargas.

On a proposal of Ministry of Petroleum & Natural Resources, the Committee approved signing of the LNG sale purchase agreement (SPA) with Qatargas for a period of 15 years and authorized the PSO to execute the SPA under government to government arrangement after completing the due process,” ECC said.


It was reported in November last year that PSO agreed to import 1.5 million tonnes of LNG per year under the long-term deal from the world’s largest LNG producer.

Pakistan began importing LNG in March 2015 in order to replace conventional fuels to fire its power stations.

The country is importing chilled gas through Excelerate Energy’s 150,900 cbm FSRU Exquisite, which is chartered by Engro Elengy, located at the Port Qasim in Karachi.

The Port Qasim facility received 17 cargoes or one million tons of LNG by the end of December.

 http://www.lngworldnews.com/pakistan-qatar-to-ink-lng-deal/

________________

Does Christy Clark need more ammunition for her throne speech...?

India is demanding cheap LNG from Australia...this LNG is going to be used as back-up power for India's surging renewable energy industry..

____________


India and Australia on Monday formed a sub-group to prepare a roadmap that would look into ways in providing cheap LNG for power plants in the south Asian country. 

India is willing to consider long-term fixed price contracts for the supply of gas which will enable power producer to enter into a power supply contract at an affordable price,”  India’s Power and Coal Minister Piyush Goyal said in a statement released by the Ministry of Petroleum and Natural Gas.

Goyal was addressing a roundtable in Brisbane, Australia on Monday on the business opportunities for LNG and coal bed methane. He further stated that opportunities to control the entire value chain right from gas production, liquefaction, shipping, re-gasification and power generation can be evaluated at the current “historic low prices of many of these activities“.


According to the Minister, India is running one of the world’s largest renewable energy programme which aims to increase the capacity 5 times to 175 GW over the next seven years.
This will require gas based plants which can act as spinning reserve and supply power during deficit times of day (like evenings) when renewable energy production reduces while stabilizing the grid,” he said.

He added that since coal-based power is available in India at less than 5 cents per unit, the LNG providers should consider supplying gas to India at a price that is comparable.

 http://www.lngworldnews.com/india-wants-cheap-lng-from-australia/

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These new prices render British Columbia's LNG proposals uneconomical..money sinkholes...

Oh, and in case you fine folk missed the news from Queensland Australia...Their LNG industry is a complete and utter disaster...

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Queensland's collapsing LNG Industry




In all wars, there is collateral damage and, in this case, the damage from the oil price war has fallen on the LNG industry, particularly the Australian onshore gas industry in Queensland which has some of the highest production costs of gas on Earth.

Thus the big three companies operating in Queensland – Santos, Origin and QGC – are starting to discover just how bad a folly they have committed.

Gas in Queensland is all about exporting liquefied natural gas (LNG) to Asia, and to this end all three companies built mind-numbingly expensive LNG plants at Gladstone.
These three plants cost – figures vary, but at least - $60 billion to build and even now one can’t help wondering what on Earth they were thinking?

Of the big three in Queensland, QGC are best placed to survive. QGC is the onground manifestation of BG-Group, which is in turn contemplating a merger with Royal Dutch Shell. However I will refer to them as QGC for this Australian-based article.

QGC, through their parent, have staggering amounts of capital available to them, and so will not go bankrupt. However, their Queensland CSG-to-LNG business is the worst performing arm of their global business and so even they must be currently looking at the Queensland books and wondering how long they are prepared to run an underperforming asset.

Of the other two, we are already hearing that Origin – who feed their coal seam gas into the US$17.5 billion APLNG plant at Gladstone – are in all sorts of trouble. Moody’s Investor Service indicating that, already, they cannot service their monster debt on the plant.......

 ll  clarify those costs here:  The production costs of the gas Santos feed from the CSG fields in the western Darling Downs, around Roma, run at US$3.50 at the current exchange rate of 0.7, liquefaction and shipping fees, another US$3.50.
Total production costs therefore stand at US$7 even.

Santos produced 544,000 tonnes from one train at the GLNG plant in ten weeks of quarter four of 2015.They claim they will have train two operational in quarter two of 2016, and if that optimistic forecast comes true, and train two produces at a similar rate, then Santos will produce approx 3.8 million tonnes in 2016.

With the Goldman Sachs forecast price of the JKM at US$5.80/Gj, and therefore Santos’s projected price for the year at US$6.80/Gj, then Santos will lose US$0.20 on every gigajoule they produce.
That would leave a net loss of US$41 million for the 2016 year.

2016 is a startup year, so tonnes produced will run, as I say, around 3.8 million tonnes, however the nameplate capacity of GLNG is 7.8 million tonnes, so let’s examine that.
If, against all the history of engineering Santos miraculously double production for 2017 to 7.8 million tonnes, then that unfortunately for them coincides with the forecast price of Santos gas going down again, to US$5.91.

There are 54.5 gigajoules in a tonne by the way, so the total loss can be calculated by tonnes x 54.5 x margin, which for 2017 would show a loss on GLNG of US$463 million.

In 2018 the price descends again to US$5.49, what the Queensland LNG companies pray is the cellar, but there is no certainty on that I can assure you. This low price is also projected for 2019.
And thus Santos shows a loss, if in full nameplate production, in 2018 and in 2019 of US$641 million each of those years.

Leaving a simply staggering grand total of US$1.79 billion combined loss over four years.

 https://independentaustralia.net/business/business-display/queenslands-collapsing-lng-industry,8620



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I'm Looking forward to the B.C. Liberal Throne Speech..

 

Christy Clark's LNG fantasy is over, the new longterm prices being inked by Asian countries have made British Columbia LNG a stranded asset...It costs more to get it out of the ground than what it can be sold for..

Which makes B.C. LNG export economically not viable...In other words Shell Canada and Petronas will not proceed...And as for the small LNG proposals..well..

"A fool and their money soon part ways" 



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