Written by Grant G
Well well well, how quickly worms turn....
As reported almost exclusively here at The Straight Goods, Japan, the country Christy Clark claimed was going to buy all the LNG B.C. produce and make us filthy rich....The dream(fantasy) has died..
Not only is there a worldwide LNG glut going out to 2030...not only is Japan's LNG use in freefall, not only is Japan's electricity demand in perpetual freefall because of efficiency and a rapidly declining population...
Now add in Donald Trump.....Shinzo Abe, the Prime Minister of Japan is set to meet with Donald Trump....Japan, which at present has contracted too much longterm LNG....Shinzo Abe is wanting to appease Donald Trump, especially when it comes to trade deficits, USA buys far more products from Japan than Japan buys from USA....Donald Trump has been raging at Japan over this present predicament....Shinzo Abe has stated that Japan is prepared to buy USA oil and gas...as in LNG..
Breaking...From Reuters newswire...
Exclusive - Japan considers buying more U.S. energy as Abe prepares to meet Trump
Japanese Prime Minister Shinzo Abe is considering increasing energy imports from the United States, two sources familiar with the plan told Reuters, as he prepares to meet President Donald Trump, who has complained about Japan's trade surplus.
Japan is putting together a package of plans for Japanese companies to invest in infrastructure and job-creation projects in the United States for Abe to take to the Feb. 10 meeting with Trump in Washington.
Another idea is to offer to increase liquid natural gas (LNG) imports from the United States, a source in the ruling coalition told Reuters.
Another option, if Abe determines that Trump is most concerned about the trade gap, is to increase imports of U.S. shale oil or gas on top of the investment package, according to a top executive at a major Japanese corporation who is close to Abe.
Japanese officials have been scrambling to respond to Trump's scattershot comments since he took office.
He has threatened to impose a tax on car imports from Mexico, criticised Japan's trade gap with the United States and most recently accused Japan, along with China and Germany, of devaluing their currencies to the detriment of U.S. companies.
"(Abe) wants to know what's the most important thing for Trump," said the executive, who declined to be identified.
"If it is the trade surplus that Trump cares the most about, for instance, then we could come up with a few possible solutions," including importing more U.S. shale oil or gas.
Abe's approach toward Trump would be "not accommodating, not opposing", he said.
Utilities would be resistant to buying more U.S. shale gas because they have already committed to buying large amounts and Japan's demand for energy is falling, an executive at a Japanese gas importer told Reuters on condition of anonymity.
Prices for LNG in Asia have fallen by almost a fifth this year amid a supply glut.
Japan is the world's biggest buyer of the gas cooled to liquid form for transport on ships and takes in nearly a third of global shipments.
Once seen as a panacea for Japan's energy crisis after the Fukushima nuclear disaster in 2011 led to the shutdown of most reactors in the country, U.S. shale gas is now just one of many options for Japan to meet its needs.
Japan took in its first shipment of shale gas in liquid form this month and more shipments are likely to come as more export terminals start shipments this year and next.
The Yomiuri newspaper said on Thursday Abe's growth and jobs initiative would include a plan for Japan and the United States to jointly develop a $450 billion "infrastructure market", into which the Japanese government and companies would invest $150 billion over 10 years.
Here me clearly Christy Clark, listen up Rich Coleman...Here are the facts..There is a worldwide glut of LNG going out to 2030...Japan's LNG use is in freefall, their electrical demand is in perpetual decline...Japan already has too much LNG and now..
And now Japan, to appease the USA is prepared to buy up American LNG being produced in the Gulf Coast....need more..Alaska is pushing to develop and build a mammoth LNG terminal...Alaska LNG, like British Columbian LNG proposals have failed to secure LNG buying customers at a price that would bring profits..
It is my opinion that this latest initiative between Japan and America has put the final nail in BC's LNG coffin...
And that is good news for the Skeena River, good news for BC wild salmon..
Petronas is out....Their corporate website hasn't mentioned British Columbia in 1/2 a year..
Petronas is not going to expend any money on Pacific Northwest LNG when they haven't secured LNG buying customers...and considering Japan was the customer Petronas and British Columbia was trying to woo..
The time is now Christy Clark....you made outlandish over-the-top election promises to the people in BC's northeast, ..promises to BC's coastal communities, ..people invested money, the voters were promised untold wealth, now comes the time to pay the piper..
You Christy Clark and Rich Coleman need to come clean with British Columbia citizens and tell the truth, admit that your LNG fantasy has come to a grinding halt, and for the foreseeable future, at least 15 years nothing is going to happen on the LNG front..
And no, India is not going to be a market for over-priced BC greenfield LNG...India will only buy cheap LNG, which the world is awash in..
The Straight Goods
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