Shell says it has approved huge gas project in Canada

Shell says it has approved huge gas project in Canada

"It's like reliving our history", said Kitimat Mayor Phil Germuth, remembering the Aluminum Company of Canada's decision to build an aluminum smelter in that north coast city in the 1950s, making what was then the single largest private-sector investment in Canada's history.

LNG Canada has an estimated price tag of up to $40 billion, considered the largest private investment in B.C. and Canadian history.

Reports that a $40-billion LNG is a project is a go surfaced over the weekend, prompting concern from BC Green Party leader Andrew Weaver, who remains disappointed amid confirmation of the project. "It seems that mega-projects are back". Both government and industry data only account for the first phase of the project, while environmentalists are counting the second planned phase, which has not yet been approved.

Horgan's minority NDP government only governs because of the support of the Green party.

Environmental groups such as the David Suzuki Foundation also believe the project does not match B.C.'s climate change goals.

'I don't see it as a case of replacing United States cargoes, more about meeting projected demand growth, ' said Wood Mackenzie analyst Nicholas Browne.

How can we can permit a facility and pipeline we don't own to be built, but we can't twin the pipeline we do own? Elected leadership of 25 First Nations - and that's a huge amount of support - recognized the positive impact this will have at a societal level for our communities.

The LNG Canada joint venture claims its two-train export plant has been created to achieve the lowest carbon intensity of any large-scale LNG plant now operating in the world.

LNG Canada said that LNG from its project will reach Asia in about half the time it takes from the U.S. Gulf Coast.

"This is a generational opportunity for northern British Columbia, one that could not be passed up", he said.

In light of these circumstances, LNG Canada plans to construct a natural gas liquefaction plant at Kitimat.

The future of major energy projects in British Columbia has been at the centre of a debate because of the provincial NDP government's opposition to the Trans Mountain pipeline.

A crunch is coming in the LNG markets because not enough projects are coming on stream in the years ahead.

Electric sector demand is expected to increase by 0.7 Bcf/d as new gas-fired capacity replaces retiring coal plants. "It seemed like a vision that seemed unreachable", she said.

Kinder Morgan Inc. sold the oil pipeline to the government for $4.5 billion after the USA energy giant said it faced "unquantifiable" political and regulatory risk.

He added that the LNG Canada approval marks a "drastic" improvement in the LNG market over the past year - a trend driven by growing Chinese demand - and suggested more final investment decisions could come in the next 12 months.

Western Canada "is closer to 75% of the global LNG market in Asia than any other non-Asian supplier", Madeline Jowdy, senior director of global gas and LNG at S&P Global Platts in NY, said in an email.

While the project is expected to provide a boost to the Canadian energy industry, some analysts asked whether the price tag could be tough on Shell.

Prime Minster Justin Trudeau and B.C. Premier John Horgan embrace during a press conference announcing the signing of a Declaration of Final Investment Decision for a LNG project in Kitimat, Vancouver, October, 2, 2018.



Related Posts

What's missing from the FBI's investigation into Brett Kavanaugh?
Dianne Feinstein of California, the Judiciary Committee's top Democrat, the new interviews appeared to be "very limited" in scope. A couple of them have come forward now on the record to say that they heard of the incident that Ramirez alleges at the time .

Vettel didn't want to be 'complete arse' to Hamilton
A sheepish Lewis Hamilton increased his lead in this year's drivers' world championship to 50 points when he claimed an accomplished victory, aided by Mercedes team tactics, in Sunday's Russian Grand Prix .

Chelsea's Maurizo Sarri - I hope Alvaro Morata's goal can 'restart' season
Chelsea midfielder Ruben Loftus-Cheek is close to recovery but his return is likely to be on hold for some time as it might be a risk to play him now.

Irving plans long-term stay with Celtics
He'll presumably opt out of his contract following the 2018-19 campaign in order to land a wealthier max contract in free agency. The Boston Celtics point guard said Thursday that he plans to remain with the team following the upcoming season.

Google launches Voice Access to help people with mobility challenges
Tappable elements on the screen are overlaid with small numerals, so you can just call out any number to mimic a tap. After completing the tutorial, Voice Access is ready to use and runs in the background of your smartphone .

Prithvi Shaw Says Virat Kohli Is A Funny Guy Off The Field
He scored 546 runs in a school game in 2013, and captained India to the Under-19 World Cup title in January in New Zealand. India regular test openers Shikhar Dhawan and Murali Vijay were dropped after poor form during the recent tour of England.

Hundreds arrested as Brett Kavanaugh confirmation vote nears
One person who evidently did not was Christine Blasey Ford , the first woman who accused Kavanaugh of sexual misconduct. Senators received the 46-page report Thursday after it was delivered to the White House at 2:30 a.m.

U.S. vice president says China interfering in American politics
She said China was a "builder of world peace " with no interest in meddling in U.S. elections. The PBS NewsHour will update this story as it develops .

Elon Musk straight-up taunts the SEC on Twitter
As a result, the SEC reportedly increased Musk's fine from $10 (£7.7 / €8.7) million to $20 (£15.4 / €17.4) million. The lack of support from investors eventually led to his "grudging approval" to reach a settlement with the SEC.

Justice Dept. announces charges against 7 Russian operatives for cyber attacks
It started when one spy was caught with a mobile phone that had been activated on the GRU's doorstep in Moscow. This indicates a growing global willingness to call out Russian intelligence aggression.

© 2015 ExpressNewsline. All Rights reserved.