Steelhead LNG is Wanting the BC Government to Build them a pipeline to Vancouver Island's Westcoast using taxpayer dollars

Written by Grant G


As many of you must have heard......Steelhead LNG has stopped all activity at their proposed "Floating LNG plant" Sarita Bay location.

This is not a surprise, this proposal was always a ponzi scheme, a pump and dump operation...

Contrary to media reports, Steelhead LNG is NOT an LNG company, they have no assets, no lng infrastructure, they have no part of any energy operation, as such they have no revenue... 

Steelhead LNG is a group of people(Swindlers) looking for investors to buy in, to purchase everything, that now includes Nigel Kuzemko CEO/Executive Chairman asking the B.C. government to build a pipeline(s) and deliver gas to their very westcoast location, on the taxpayers dime...



(Pictured above is Nigel Kuzemko)


Here is their website....

http://www.steelheadlng.com/


Here is what I wrote about Steelhead LNG group in 2015...

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"A fool and their money soon part ways".....

Seems to me that every time devastating news on the world LNG front rears its head out comes a British Columbia made LNG spin story, yesterday was no different, articles and newscasts came out blazing, ...The proponent,...Steelhead LNG

Steelhead`s proposal, a floating LNG operation at Sarita Bay, on Vancouver Island's Westcoast.. a $30 billion dollar LNG liquefaction plant...the nearest town of size is Port Alberni....but it's a long rugged way there..

 http://www.vancouversun.com/news/metro/Floating+plant+proposed+Saanich+Inlet/11305428/story.html

This proposal will never happen, never be built, a foolish pipedream, ...Steelhead LNG is not an energy company, they have no assets, they own no LNG facilities, they own no upstream drill properties, Steelhead LNG is a group of people, including BC Liberal Geoff Plant, and some other people with expertise in the energy game, but to be clear they have no financial means to back up their silly proposal..

I feel bad for Vancouver Island First Nations who have drank the LNG koolaid...

Steelhead LNG proposes a pipeline from northeast British Columbia to our southern B.C. coastline, from there another pipeline on the bottom of the Georgia Straight, from there a pipeline to cross Vancouver Island to BC`s wild west coast, (Sarita Bay)...In Sarita Bay Steelhead LNG proposes building a $30 billion dollar liquefaction plant,......

This project will never happen, for two reason, the first being the risk to tourism, to salmon, to life itself....  

The second reason why the project will never happen is money, Steelhead has no financial means and no bank or money lender will ever sanction such an expense on a company with nothing, no assets, no revenue....

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Steelhead LNG used First Nations as pawns in this scheme, all the talk of bringing economic benefit to this very westcoast First Nation....Too bad many in the nation drank the kool aid..

The problem with Steelhead's proposal is twofold, logistics and money...they have no money, no revenue (outside of duped investors)...Steelhead grifters were hoping to seed this project with scant dollars, big announcements and First Nation pawns...pretend the project was a go-ahead until it wasn't, then lean on the BC Government to expend $billions on multiple pipelines and deliver gas to their very pristine rural westcoast location...

Steelhead's proposal would require three pipelines...one pipeline to bring BC's natural gas from Northeast B.C. to the coast...Then lay another pipeline under the Georgia Straight(Salish Sea)...Then build another pipeline across Vancouver Island's rugged untamed terrain to the very West Coast, to Sarita Bay in Barkley Sound....

Three pipelines, estimated pipeline costs.....$12 to $14 billion dollars....Steelhead LNG now wants the B.C.- John Horgan Government to build these, pay for these and deliver the gas to Steelhead's 100% Chinese built (on a huge barge) "floating facility" located three pipelines away on Vancouver Island's very West Coast...

That is laughable, and that was always Steelhead's plan...dupe some fools, dupe some government to deliver BC natural gas on a platter to Steelhead's chosen site..!

What makes Steelhead's proposal so stupid, so economically un-viable is...A floating facility could be placed anywhere...Steelhead could move their floating facility to Prince Rupert, thus requiring only one on-land natural gas pipeline..saving the company many $billions of dollars...

Nigel Kuzemko CEO/Executive Chairman of Steelhead LNG has not even considered this alternative, instead Nigel Kuzemko today on Global BC news stated....There is poor investment sentiment in BC and he would like to see the BC Government partner with industry to build pipelines..

There it is folks...The ponzi scheme's last plank...rev up the media, explain none of the logistical and economic blocks..rev up First Nations on Vancouver Island's Westcoast...promise all this economic prosperity to First Nations...make all these premature milestone announcements how this "floating LNG terminal" is advancing and then....

And then spring it on the media, spring it on Government, tell the bad news to the "duped" First Nations and then let it simmer..then go back to the media and tell them all can be salvaged if the B.C. Government delivers the gas, builds the pipelines, rips up Vancouver Island's rugged and super natural terrain and delivers us natural gas....

And if the BC Government was stupid enough to actually do it...Then Steelhead's LNG group of ponzi scammers could raise enough capital to actually purchase a 100% Chinese made floating LNG liquefaction terminal and reap the rewards..

of all the media reports on this...from Bloomberg, the CBC..Global..Alaska Highway News, Times Colonist, only one report(besides The Straight Goods) is even close to being accurate...That was 

Alberni Valley News....here is what they reported..

https://www.albernivalleynews.com/news/steelhead-lng-stops-work-on-kwispaa-lng-project-near-bamfield/

"Steelhead LNG manager of communications Matt Skinner said the decision to cease work on the Kwispaa project comes down to economics. “Given the current environment in B.C., investors really need a greater degree of certainty before investing in a project such as ours,” he said Monday. “We’ve paused (work) on Kwispaa for now and are evaluating.”

He said unlike larger energy companies, Steelhead does not have revenue to depend on to fund projects such as Kwispaa. “Steelhead is funded by investors.”

He said last week’s throne speech by the B.C. government had no bearing on Steelhead’s decision. “It comes down to the challenges that exist in getting funding for these kinds of activities.”

Steelhead had already completed preliminary engineering on Kwispaa and was to begin detailed design work in early 2019. The first phase of Kwispaa was estimated to be $10 billion, with the second phase costing an additional $10 billion. This would not have included a pipeline, which was a separate part of the LNG project.

Huu-ay-aht will evaluate what the decision will mean to their business plans in the coming days and said they will update their citizens with more information at the end of February.

“Huu-ay-aht remains committed to pursuing initiatives for meaningful economic reconciliation where we create opportunities to generate value in a global context and create employment and revenue opportunities locally,” Dennis Sr. and Peters wrote.

Skinner said Steelhead LNG has not completely pulled out of the deal, but there are no plans to continue forward at this time.

“At this point we’ve ceased work. That’s not to say it will never move forward but right now we’ve ceased working on (Kwispaa).”

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Steelhead LNG can remove these expensive pipeline issues by locating to Prince Rupert...Kitimat..Dish Cove, Ridley Island...But they're not...This was always a pump and dump scam...either that or they thought by conning First Nations, promising economic prosperity, announcing a series of milestones crossed they could convince a naive BC Government to expend $billions of dollars to deliver natural gas to a fly-by-night group of private investors without a pot to piss in.....

Because....A floating facility could and can be located just about anywhere, anyone with money or money guarantees can order a floating LNG liquefaction facility, all one needs is money...The most difficult, and most expensive part of Steelhead's proposal was the PIPELINE(s) issues and environmental assessments, three pipeline require three environmental assessments...a mainland pipeline route, a underwater pipeline route and a Vancouver Island pipeline crossing route...those pipelines are the logistical nightmare, those issues needed to be resolved first...and the fact that Steelhead did the reverse first, garnering First Nation support..convincing a community, selling economical miracles and only then saying....Oh my god, how can we get gas, and who will build and pay for these three pipeline projects.....The gig is up Steelhead....

My sincere condolences to the Huu-ay-aht First Nation......Time to move on to something real, and sustainable..

This project is dead....To those investors who actually put up the seed money to these con artists..I have one thing to say to you..

"A fool and their money soon part ways"

 The Straight Goods

Cheers Eyes Wide Open