(BOE Report) – A huge liquefied natural gas export terminal led by Shell, called LNG Canada, may struggle to dramatically raise Canadian natural gas prices when it starts operating next year because a flood of pent-up supply is waiting to hit the market, analysts said. Gas prices at Alberta’s AECO hub hit a two-year low of 5 Canadian cents per million
LNG Canada has approved contracts totaling almost $1 billion (CAD) for the early construction phase of its LNG export project near Kitimat, British Columbia. LNG Canada approved over $937 million (CAD) in contracts and subcontracts with First Nations enterprises and other businesses across Canada. This includes $175 million (CAD) to local First Nations businesses and, with the addition of contracts awarded to local Kitimat area businesses, including First
From Alaska Highway News After a hiatus of more than two years, Petronas Energy Canada Ltd. is back in the field in Northeast B.C. as it begins drilling to underpin its share of natural gas for the LNG Canada export project. However, the former Progress Energy Canada Ltd. has no plans to return to the frenetic pace of 2013-2014 when
From Reuters LONDON (Reuters) – LNG Canada, the $30 billion liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petronas signed an initial sales deal with trading house Vitol. Royal Dutch Shell decided in October to construct the export terminal. It was the first major investment decision in a new North American LNG export project for
From Reuters Africa SEOUL, Oct 12 (Reuters) – South Korea’s state-run Korea Gas Corp (KOGAS) will import 700,000 tonnes per year of liquefied natural gas (LNG) from the LNG Canada project, led by Royal Dutch Shell, from around 2024 over 40 years, its vice president said on Friday. “We will import 700,000 tonnes annually from around 2024 for 40 years
From The Globe and Mail It’s a new beginning for the residents of this northern B.C. community. After LNG Canada said it would go forward with a $40-billion energy megaproject in Kitimat, more than 1,000 people gathered to celebrate the area’s impending economic boom times. Days after the Royal Dutch Shell PLC-led consortium held a news conference in Vancouver last
From The Canadian Press The approval of Canada’s first LNG export terminal is expected to boost investor confidence in Canada’s natural gas sector, industry observers say. But LNG Canada’s ability to provide a new market for Western Canadian natural gas and thus support severely depressed prices won’t be seen until the facility and its main supply pipeline are built sometime
The board of PetroChina approved its US$3.46 billion share of the LNG Canada project, as did Korea Gas FID could come next week From Financial Post/Bloomberg Two of Royal Dutch Shell Plc’s Asian partners in a liquefied natural gas venture in western Canada approved their share of the investment, pushing the multibillion-dollar development one step closer to a final approval.
Petronas investment seen as ‘ flag in the ground’ – the surest sign project will be built From Bloomberg The prospects for a massive gas export plant on Canada’s Pacific Coast are looking bright, according to executives of service companies that would have a hand in supporting the facility. LNG Canada, the Royal Dutch Shell Plc-led group that’s considering building a
Real estate investors face peak prices From Business Vancouver Real estate investors have Kitimat back on the radar but the prices and the potential are both much higher now that during the last boom in the northeast centre for the biggest infrastructure project in Canada. “It is crunch time for Kitimat,” said commercial agent Graham Pitzel of Re/Max Kitimat Real
Macro Enterprises Inc. (TSXV:MCR) (the “Company” or “Macro”) is pleased to announce that its Joint Venture with Spiecapag Canada Corp. (“Spiecapag”) has successfully negotiated and executed a construction contract with Coastal GasLink Pipeline Limited Partnership for pipeline construction services on the Coastal GasLink Pipeline Project (the “Project”). The Macro Spiecapag Joint Venture has been selected to construct approximately 166 kilometers
Malaysian energy company PETRONAS is apparently back as an active LNG player in Canada, with the announcement today that it is buying a 25% equity stake in LNG Canada. LNG Canada is a proposed natural gas export project that is planned for Kitimat, British Columbia, Canada. The move was unexpected after PETRONAS withdrew from the $36 billion Pacific NorthWest LNG
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