(Updated October 30th/2017......Woodfibre LNG, still no FID(final investment decision) ...Construction has been delayed to 2018...Woodfibre LNG cites poor economic conditions as the reason for not going forward with the project...
In a November 4th/2016 press conference in Squamish...Christy Clark n Rich Coleman lied about Woodfibre, they lied when they said there was a FID...there never was one...it was a political fake-out..it was BC Liberals lying...there never was an FID,,,still no FID..and odds are, Woodfibre, without BC Liberals paying BC Taxpayer dollars to Woodfibre LNG to take our natural gas...Woodfibre will not be building this project...without BC Liberals propping up Woodfibre for political reasons..Woodfibre has to stand on their own 2 feet and make money the old fashion way...with a good business plan...with LNG, a micro plant...Woodfibre LNG is a money loser....The project is dead..
Read this...
https://energeticcity.ca/2017/10/woodfibre-lng-delaying-construction-2018/
Well, it appears that once again The Straight Goods was bang on correct...in a article in the Squamish Chief....(August 3rd/2017)
http://www.squamishchief.com/news/local-news/woodfibre-lng-will-press-on-despite-market-changes-1.21564866
There is no Woodfibre FID(as claimed in November 2016)..only a HOA agreement...Still no buyers of LNG for Woodfibre...Construction for early 2017, or any 2017 construction(as claimed in November 2016)..CANCELLED....in November/2016..timed to coincide with BC Liberals LNG saturation ad campaign..Woodfibre said there was an FID (not)..Woodfibre LNG said on November 4th/2016 construction to start in early 2017(NOT)....I CALLED THEIR BLUFF Then, CALLED CHRISTY CLARK AND WOODFIBRE OUT FOR BULLSHITTING/LYING TO THE PUBLIC...WOODFIBRE LNG WAS DEAD IN NOVEMBER 2016, AS WRITTEN BY THE STRAIGHT GOODS...AND IT'S STILL DEAD TODAY..
Below is The Straight Goods article from November 2016.....Gotcha again BC Liberals...Postmedia, how many times must you say "no mas" to the Straight Goods....only time will tell
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Woodfibre LNG, The Great Deception Begins, 2017 BC Election Ploy Unraveled
(Premier Christy Clark announces a new LNG export facility to be built near Prince Rupert on Nov. 12, 2013, with Nexen CEO Kevin Reinhart, middle, and Rich Coleman)
Written by Grant G
You see that picture atop this post? there is Christy Clark and Rich Coleman announcing an LNG project being built, that project is gone, not even pondering going forward....There's a pattern to this government, they announce seismic upgrading for specific schools and a decade later work hasn't even begun....or scheduled to be done, ...what about Petronas' FID? you do know Petronas gave a FID...the date was June 11th 2015.....
"What a tangled web we weave when first we practice to deceive"
There is no better quote than the one above to describe the BC Liberal Government...
Did Woodfibre LNG really give a legitimate FID or was it a staged photo-op designed to deceive the voting public, designed to keep Christy Clark's LNG delusion alive through election 2017....
On June 11/2015 Petronas gave a conditional FID to the BC Liberal Government, there were two conditions attached, the first one being..
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Petronas and its Asian partners stipulated that two conditions must still be met. Industry observers say the key condition focuses on the completion this fall of the federal environmental assessment.
“The final investment decision will be confirmed by the partners of Pacific NorthWest LNG once two outstanding foundational conditions have been resolved,” the consortium said in a statement.
“The first condition is approval of the project development agreement by the Legislative Assembly of British Columbia, and the second is a positive regulatory decision on Pacific NorthWest LNG’s environmental assessment by the government of Canada,” it added.
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The BC Liberal government was ordered by Petronas to create a new PDA agreement..they did, BC Liberal Rich Coleman bent over like a contortionist on steroids, boy did Rich Coleman bend...
BC Liberals used their majority to ram a new PDA through the house, described as, by one of their own, no other than Martyn Brown, Gordon Campbell's one-time chief of staff described the new PDA thusly
BC Liberals used their majority to ram a new PDA through the house, described as, by one of their own, no other than Martyn Brown, Gordon Campbell's one-time chief of staff described the new PDA thusly
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Clark’s deal doesn’t even do that. It rather defines our time in purgatory: 25 years, to begin immediately, after each new LNG project is confirmed.
We will all have to pay the big oil companies subsidies for their pollution.
We will be obliged to guarantee them tax credits that are probably too rich and unnecessary.
We will be bound to give them tax rates and tax avoidance measures to which no else is entitled, locked-in for 25 years.
And as a “capper”, we will be forced to absolve them of any higher specific costs that they impose on our environment in intensifying the challenges of climate change.
If that’s our idea of unbridled “worldly pleasure” in a Faustian sense, we really do deserve to be eternally damned for our stupidity.
For a deal that is mostly motivated by corporate greed and the promise of untold wealth for all, the government seems awfully content to rely on Big Oil’s word that the benefits it seeks will flow as it envisions.
“Trust us,” the companies said, “you are going to love the cash we create for your government coffers and the jobs we will create for your families.”
That was good enough for the Clark government, which was far too quick to sign its own name in blood to give Big Oil its insisted dues.
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The second condition required by Petronas was federal approval, in late August 2016 Justin Trudeau did just that, granted federal approval and even before the ink was dry Reuters reported that Petronas was shopping their stake in PNW LNG(not that there is any interest)...
Rich Coleman on hearing that Petronas news was flabbergasted, gobsmacked, ....This could not be...Rich Coleman and his sidekick Spencer Sproule sprung to action...What Spencer Sproule did was...It appears he created a fake Petronas press release, a release saying that the rumors of Petronas wanting out of PNW LNG was false...it wasn't false...
Rich Coleman on hearing that Petronas news was flabbergasted, gobsmacked, ....This could not be...Rich Coleman and his sidekick Spencer Sproule sprung to action...What Spencer Sproule did was...It appears he created a fake Petronas press release, a release saying that the rumors of Petronas wanting out of PNW LNG was false...it wasn't false...
The only press release pertaining to Petronas' PNW LNG proposed project is this one..Dated August 28th/2016
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"PETRONAS and its partners will study the conditions imposed by the Canadian authorities and conduct a total review of the proposed project prior to deciding on the next steps forward."
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In fact there has been no other official press releases made by Petronas on PNW LNG..you can check it out here..
Ross K and I shredded Rich Coleman and Spencer Sproule over what, in my opinion is a BC Lib manufactured denial...(detailed in below link)
So, Petronas made a conditional FID decision in June 2015 and today, Petronas is out...The project is dead, for all intents and purposes the project is dead..FID caput..
How do I know that project is dead, or at least stalled by years?....Well, ...This.
Rich Coleman told Bob Mackin in a interview for BIV magazine,...paraphrasing here, Coleman was prepared to sharpen the numbers with a new PDA ....You can read the full story in below link
http://powellriverpersuader.blogspot.ca/2016/09/why-is-rich-coleman-planning-to-restart.html
prepared to re-open the Petronas PDA and reduce BC's share to nothing...A PDA the BC Liberals rammed through the house, Coleman was prepared to slice the sliver thinner..I posted a story laying out what Coleman was up to
http://powellriverpersuader.blogspot.ca/2016/09/why-is-rich-coleman-planning-to-restart.html
When Christy Clark was asked about the PDA being opened up ..she denied it..
http://powellriverpersuader.blogspot.ca/2016/09/why-is-rich-coleman-planning-to-restart.html
prepared to re-open the Petronas PDA and reduce BC's share to nothing...A PDA the BC Liberals rammed through the house, Coleman was prepared to slice the sliver thinner..I posted a story laying out what Coleman was up to
http://powellriverpersuader.blogspot.ca/2016/09/why-is-rich-coleman-planning-to-restart.html
When Christy Clark was asked about the PDA being opened up ..she denied it..
However, Rich Coleman told a Calgary audience in the first week of October that he was heading to Malaysia to get news directly from Petronas on timelines and when they will pull the trigger on their FID...Rich Coleman went to Malaysia and he got some news, bad news, Rich Coleman went silent, not a word about his trip to Malaysia, no tweets, no pressers, nothing...Now, I wasn't privy to what they told Coleman but I'm pretty damn certain he was told this...
Petronas said...in a nutshell, the project isn't viable, equity partners are backing out and...And there is at present a 40% excess world LNG supply glut...why was that said, because that's the bottom line, ...Petronas is in a world of financial hurt compared to years gone by, ....Petronas can buy LNG on the open market cheaper than the cost of BC gas, a greenfield proposal...
Petronas said...in a nutshell, the project isn't viable, equity partners are backing out and...And there is at present a 40% excess world LNG supply glut...why was that said, because that's the bottom line, ...Petronas is in a world of financial hurt compared to years gone by, ....Petronas can buy LNG on the open market cheaper than the cost of BC gas, a greenfield proposal...
Which brings me back to this posting, this article, a story about the BC Liberal Woodfibre LNG fake story...Did Woodfibre LNG really commit to building a project..?
For starters, Check out Bob Mackin's twitter feed... https://twitter.com/bobmackin?ref_src=twsrc%5Etfw (scroll down to his November 5th roughly 9:00 am tweets)
He's reporting that there is no official news on Woodfibre's parent company website, nothing!, no press release, Bob Mackin in my opinion is of the belief that the Woodfibre stageplay was just that, another fake-out by the BC Liberal government..I agree..
My post yesterday, I reported a couple of pertinent items/statements that were in an early reporting Woodfibre LNG article in the Vancouver sun.. after I highlighted the issues, the quotes disappeared from the Vancouver Sun article, Postmedia editors purged that data from the original article.
Below is from the article I posted yesterday
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From the November 4th/2016(today)Vancouver Sun...and I quote..
Updated here
http://vancouversun.com/news/local-news/premier-clark-making-woodfibre-lng-announcement-in-squamish
"Giraud said work is already underway at the site, but major construction will not take place until after the company receives permit approval from the B.C. Oil and Gas Commission by the end of 2017"
(The above paragraph has since been removed by Postmedia editors, it was indeed contained within the original Vancouver Sun linked article, I cut n pasted it, now been removed...Grant G)
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That must be a joke, the BC Oil and Gas Commission is a BC Liberal Government industry rubber stamp outfit...by the end of 2017???..After the election???..and there is more...There are questions as to Woodfibre's LNG buying contracts/customers...
From the same Vancouver Sun article, and I quote..
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Updated here too
http://vancouversun.com/news/local-news/premier-clark-making-woodfibre-lng-announcement-in-squamish
"More work is needed on hammering out customer contracts for the gas in Asia "Stay tuned"said Giraud when asked about whether the company had nailed down those contracts"
(Again, Postmedia editors have removed that statement from the original Vancouver Sun linked article, same thing, I cut n pasted that statement and it too has been removed, Postmedia are so bad, so corporate owned, so in bed with BC Liberals and big energy...Grant G)
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(That is pretty pathetic, I highlight the important parts of Postmedia's reporting and....And then they remove after I point out the flaw and inaccuracies...)
At present, Woodfibre has one potential buyer of half of their gas(1 million tonnes)...Woodfibre would produce 2.1 million tonnes of LNG per year, they have one potential buyer for half the gas produced...A Chinese company wanting a 10% equity share, but, that deal hasn't been nailed down or signed either....
So let's cut to the chase...Woodfibre has not nailed down LNG buying customers....Woodfibre is laughable in saying they have to wait near a year and a half for a permit from The BC Oil N Gas Commission..thus taking any construction start well-past the 2017 BC Election...
You need more...Woodfibre LNG has a long history of playing political footsy with the BC Liberals...
BC Liberal MLA Jordan Sturdy had his election coffers filled up by Woodfibre at a private fundraiser at a private golf course last year, media was banned from the event..
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http://www.squamishchief.com/news/woodfibre-lng-sponsors-mla-sturdy-s-fundraiser-1.1755686
Updated here
http://vancouversun.com/news/local-news/premier-clark-making-woodfibre-lng-announcement-in-squamish
"Giraud said work is already underway at the site, but major construction will not take place until after the company receives permit approval from the B.C. Oil and Gas Commission by the end of 2017"
(The above paragraph has since been removed by Postmedia editors, it was indeed contained within the original Vancouver Sun linked article, I cut n pasted it, now been removed...Grant G)
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That must be a joke, the BC Oil and Gas Commission is a BC Liberal Government industry rubber stamp outfit...by the end of 2017???..After the election???..and there is more...There are questions as to Woodfibre's LNG buying contracts/customers...
From the same Vancouver Sun article, and I quote..
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Updated here too
http://vancouversun.com/news/local-news/premier-clark-making-woodfibre-lng-announcement-in-squamish
"More work is needed on hammering out customer contracts for the gas in Asia "Stay tuned"said Giraud when asked about whether the company had nailed down those contracts"
(Again, Postmedia editors have removed that statement from the original Vancouver Sun linked article, same thing, I cut n pasted that statement and it too has been removed, Postmedia are so bad, so corporate owned, so in bed with BC Liberals and big energy...Grant G)
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(That is pretty pathetic, I highlight the important parts of Postmedia's reporting and....And then they remove after I point out the flaw and inaccuracies...)
At present, Woodfibre has one potential buyer of half of their gas(1 million tonnes)...Woodfibre would produce 2.1 million tonnes of LNG per year, they have one potential buyer for half the gas produced...A Chinese company wanting a 10% equity share, but, that deal hasn't been nailed down or signed either....
So let's cut to the chase...Woodfibre has not nailed down LNG buying customers....Woodfibre is laughable in saying they have to wait near a year and a half for a permit from The BC Oil N Gas Commission..thus taking any construction start well-past the 2017 BC Election...
You need more...Woodfibre LNG has a long history of playing political footsy with the BC Liberals...
BC Liberal MLA Jordan Sturdy had his election coffers filled up by Woodfibre at a private fundraiser at a private golf course last year, media was banned from the event..
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http://www.squamishchief.com/news/woodfibre-lng-sponsors-mla-sturdy-s-fundraiser-1.1755686
How close is too close for government and large corporations?
West Vancouver-Sea to Sky Liberal MLA Jordan Sturdy and Woodfibre LNG are caught up in a controversy after the company sponsored a fundraiser for Sturdy last week.
Although the next provincial election is in 2017, Sturdy was the beneficiary of a Woodfibre LNG hosted, BC Liberal Party fundraiser at West Vancouver’s Capilano Golf and Country Club on Thursday evening.
Woodfibre LNG is waiting to hear if the province will grant the company an environmental permit for its proposed Squamish liquefied natural gas export and processing facility.
“It is embarrassing,” said Eoin Finn, a well known anti-LNG activist who protested outside the event.
“It is basically wrong to have a proponent with a decision in front of the B.C. cabinet sponsoring an event in broad daylight where it is clear that it is right on that edge between legitimate fundraising and influence peddling,” he said.
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I reported on that outrageous event too...
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So when is an FID really an FID?.....Let me be clear, Woodfibre LNG claims they have to wait for a permit from the BC Oil n Gas commission, that is bullshit, Woodfibre knows any required permits involving the BC Oil n Gas commission are in the bag...
Petronas gave their word in June 2015 and now have backed out.....And how do I know Petronas backed out..Rich Coleman has said just that..and I quote..from the below article
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"And it is unlikely that any other LNG proponent will come through with a final investment decision before the election next May", according to an update from natural gas development minister Rich Coleman.
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So, Petronas walks away pending a miraculous turnaround in LNG pricing and or a new more generous PDA......Rich Coleman flies to Malaysia and meets with Petronas, he issues no press releases, no news conferences, no statements, no tweets, Rich Coleman comes back empty handed, ..Christy Clark and Rich Coleman needed something LNG related to, as Les Leyne states..To check that off their 2017 election platform, that being, to start an LNG industry..
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It took a last-minute electricity price cut to close the deal, but the B.C. Liberals can go into their convention this weekend with a check mark beside the promise to start a liquefied natural gas industry.
A very small check mark
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BC Liberals in my opinion faked everyone out with a phony Woodfibre announcement, premature by a year at a minimum,....Check out Bob Mackin's twitter feed and...And there is this...Woodfibre has not satisfied the 25 conditions imposed by the Squamish First Nation... There is still no agreed upon benefits agreement with Squamish First Nations...Woodfibre has not secured actual natural gas from any of the suppliers and the most important part...
Woodfibre LNG has not secured any LNG buying customers...The part Postmedia purged from their article...Who needs Postmedia to prove what I'm saying...Let me give you the smoking gun evidence..
Directly from Woodfibre's website...
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WOODFIBRE LNG EXPORT & GUANGZHOU GAS GROUP SIGN LNG AGREEMENT
MAY 9, 2016
VANCOUVER, Canada – Woodfibre LNG Limited announced today that its Singapore-based affiliate Woodfibre LNG Export Pte Ltd. (Woodfibre LNG Export) has signed a Heads of Agreement (HoA) with Guangzhou Gas Group Co., Ltd (Guangzhou Gas Group) concerning potential LNG offtake of 1 mtpa of the liquefied natural gas (LNG) for 25 years starting in 2020.
The signing was witnessed by The Honourable Christy Clark Premier of British Columbia and Mr. Hu Chun Hua, Secretary of Guangdong Provincial Party Committee as the two leaders continue to work to strengthen the important economic relationship between the two provinces. The Chinese province of Guangdong opened a trade office in Vancouver, British Columbia – the first of its kind in Canada – in September of 2014.
The LNG will be sourced from the Woodfibre LNG Project, which is being developed in the District of Squamish, British Columbia by Woodfibre LNG Limited, a Canadian-based affiliate of Woodfibre LNG Export. The LNG offtake contemplated in the HoA will provide a long-term stable supply of natural gas to meet the rapidly-growing demand for clean energy in Guangzhou City, People’s Republic of China. Guangzhou is the capital and largest city in Guangdong Province of China.
The Woodfibre LNG Project is expected to start production in 2020 with an annual capacity of approximately 2.1 million tonnes.
Today’s announcement follows the signing in September of 2014 of a Memorandum of Understanding between Woodfibre LNG Export and Guangzhou Gas Group concerning the potential LNG offtake agreement.
The HoA includes a potential investment of up to 10% of the equity of Woodfibre LNG Limited by Guangzhou Gas Group, and marks another important step in the development of the Woodfibre LNG Project.
“The HoA with Guangzhou Gas Group shows there is an appetite in Asia for made in BC LNG,” said Byng Giraud, Country Manager and Vice President Corporate Affairs, Woodfibre LNG Limited. “This preliminary agreement gets us one step closer to making the Woodfibre LNG Project a reality, and bringing much-needed jobs and other economic benefits to Squamish and the surrounding area.”
Woodfibre LNG Export, a part of the Pacific Oil & Gas group of companies, has secured an export license from the National Energy Board in Canada to export approximately 2.1 million tonnes of LNG from the Woodfibre LNG Project for a period of 25 years.
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Look at the language, "potential"...."Preliminary"....Woodfibre has not secured any customers, everything is preliminary, nothing concrete has been signed...And that is why Postmedia purged what I reported on yesterday...
No construction until after the election, or never,? woodfibre still needs real LNG buying customers not potential customers.
There are no press releases anywhere that state the HOA agreement has been finalized....
BC Liberals were desperate, Petronas. Shell, none of those companies are building anything in the foreseeable future..What was tricky Rich Coleman to do...?
Invite Woodfibre LNG to Play footsy and politics with the BC Liberal government.....Need a little more..
From The Squamish Chief...Christy Clark disrespected the Squamish Nation...and more, the mayor of Squamish found out about the press conference/photo-op through the media??? In other words, this press conference was rushed, put together in a flash, not even a couple days notice...on a Friday..Why.
Perhaps because of the BC Liberal convention, something to show the delegates?..
I believe the BC Liberals intend to become real silent on LNG and if questioned, they point to Woodfibre as success, regardless of no construction before the election...right now, the BC Liberals are only concerned with getting past the next election...when LNG falters, come 2024 it will be some other golden egg...
Perhaps because of the BC Liberal convention, something to show the delegates?..
I believe the BC Liberals intend to become real silent on LNG and if questioned, they point to Woodfibre as success, regardless of no construction before the election...right now, the BC Liberals are only concerned with getting past the next election...when LNG falters, come 2024 it will be some other golden egg...
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The Squamish Nation set out its 25 conditions this summer that their support for the project hinged on and those have not all been yet met, Campbell said. Campbell told The Squamish Chief it was his understanding it would be made clear at the event that the Nation and the province in particular still have outstanding issues.
For her part, Clark acknowledged the Nation, but made no reference to outstanding issues.
“I would like to recognize the work of the Squamish First Nation, thank them for welcoming us into their traditional territory. Some of the members of the Squamish First Nation are behind me today working on this site. We hope that many more will find their way to this site in the coming years,” Clark said.
Campbell said issues still to be finalized include FortisBC’s feasibility work to determine a pipeline route under the Squamish Estuary, avoiding the Skwelwil'em Wildlife Management Area, “as well as ongoing management planning and emergency response planning; a number of issues including finalizing an impact benefit agreement that will be with Fortis, Woodfibre as well as a Nation to Nation agreement with the province, which we still don’t have a final agreement with the province on.”
Campbell said the Nation leadership would have preferred the government wait to make their announcement.
Mayor Patricia Heintzman, who was on hand for the announcement, but said she found out about it through the media, said it seemed to be “a little disrespectful” that the Nation’s process had been preempted.
“That is obviously concerning,” she said. “Squamish Nation has set conditions and there is every expectation that they will be met and until such time – people have jumped the gun a bit.”
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So, still outstanding issues to resolve, no benefit agreements, gas supply issues, and most importantly, Woodfibre has not secured LNG buying customers, they are merely waving around a HOA preliminary agreement which has not been agreed upon or finalized..
Christy Clark and Rich Coleman really went all out in their fakery,.....Fakery brought on by the news that Petronas ain't going forward, at least not in the near future, maybe next decade..
And...Don't expect Japan to buy any BC LNG....Japan's LNG demand is evaporating..
And...Don't expect Japan to buy any BC LNG....Japan's LNG demand is evaporating..
What a fool believes...
The Straight Goods
Cheers Eyes Wide Open
