BC and Pacific Northwest LNG to Sign MOU
Victoria, B.C. – The Provincial government is entering into a memorandum of understanding with Pacific Northwest LNG that is designed to move forward a $36 billion dollar investment in LNG.Premier Christy Clark says the agreement will only be final after approval by Pacific Northwest LNG’s partners (including PETRONAS) have reviewed and approved it, and then it will be introduced in the legislature where it will be debated before receiving final approval.
Pacific NorthWest LNG plans to build an LNG facility on Lelu Island, located in the District of Port Edward on land administered by the Prince Rupert Port Authority. The first phase of the project would consist of two liquefaction trains, two LNG storage tanks, marine infrastructure with two berths for LNG carriers, a material
offloading facility, as well as administration and auxiliary buildings. The facility would liquefy and export natural gas produced by Progress Energy Canada Ltd. in Northeast B.C. for transport to Lelu Island by the Prince Rupert Gas Transmission project.
The agreement is considered a major milestone prior to the company making a final investment decision.
Premier Clark says the Province has taken four steps towards remains committed to four principles on LNG development :
1.Establish a competitive tax rate
2. development of jobs for British Columbians by ensuring B.C. residents are prepared for the jobs that will be available
3. ensure the LNG produced is the cleanest possible
4. Continue working with First Nations.
“There are 19 proposals for LNG across the province right now” says Premier Clark “We all know not every single one of them will go ahead, but we also know some of them will and we very much hope and we very much hope this will be one of them.”
The Premier added “Today is further proof that our global investors look at us in British Colmbia and know that we mean what we say, that we deliver on our promises and we deliver on time. Of course trust is important, because in order to attract investment, in order to create 100 thousand jobs for families across the province, we need to know our customers need to know, we can be trusted.”
“This is a good day for clarity and predictability” said President of Progress Energy Canada President and Pacific Northwest LNG , Michael Culbert.
Comments
$350M per year. Assuming 5 (not very likely) get built, that’s less than $2B a year in revenue to the province. That doesn’t even cover the current (never mind what we had in debt over the next few years) debt servicing costs.
Debt free BC? $100B prosperity fund? Not a chance.
maybe not in our lifetime, but if you keep giving away the farm just may get one with shovels in the ground by 2017- 2018 with completion in 2022- 2023.
Ok then let’s do nothing. Fate what ideas do you have?
Did I say do nothing somewhere?
Whooppee Ding. An MOU, signed. Lets get something a little more firm, like a long term contract, or some indication as to what we have to sell this gas for to be competitive.
Some so called **EXPERTS** say that it is highly unlikely that more than two (2) LNG plants will be built over the next 10 years. Supposedly in Prince Rupert and Kitimat. Looks like the one in Prince Rupert is already in trouble with the First Nations. Things are also pretty quiet in Kitimat these days. A lot of contractors working on LNG in Kitimat have pulled out.
The reason that these types of projects are built in remote areas is because they are quite dangerous. If they ever blew, they would relocate anything in a five mile radius.
Uh, palopu I would suggest you read up a bit on LNG. Some ignorant types out there might even believe you,then they will spread the same bs.
Yep no ideas fate.
Contractor.
I know, I know. LNG Plants are safe. That’s why they are located in remote areas far from any large populations. Ie; Kitimat, Pr Rupert (Lelu Island) One in New York. The Port Ambrose LNG Terminal will be located 18.5 Miles off the coast of Long Island,. serviced by underwater pipelines.
There was an explosion at the Skikda, Algeria Plant, that killed 27 people, however this was (in your mind) probably an anomaly.
I think the chances of an explosion is very small, however lets not kid ourselves these plants are dangerous.
Palpou, you have crapped on LNG from the start. In the process you have displayed a stunning amount of ignorance of markets and resources. Kitimt and PR are the end points because that is the closest line to get supply to demand. Do you really think building an industrial complex away from a population is stupid. I wish PG had done that in the 60’s and we wouldn’t have the stink we do. Perhaps the LNG people acknowledge they don’t need to locate in municiple areas.
I don’t know if they will ever go ahead. Lets face it with the $350 billion dollar gas deal between China and Russia will there even be a market for LNG?
Already renewable’s are competitive with LNG for energy costs, and as the renewable costs continue to come down, the higher and high cost carbon based energy sources like tar sands and shale gas will go to the wayside as no longer economical… with LNG on a short horizon thereafter.
Does one invest in LNG with a 30-year assumption that renewables will not make the investment redundant in 5-10 years time? Thats the question they have to consider.
How long until global policy makers start to get their carbon tax on everything carbon accelerating the affordability of carbon based energy?
I think if we were building for a sustainable future we would be looking at how BC could take advantage of renewable solutions through free enterprise enabling infrastructure like smart grids where one can sell back to the grid, and hydrogen refueling stations (like mobile hydrogen refueling routes that come to the customer)… Tesla just released a micro fuel cell to power a home that competes with the costs of some utilities already… BC has geothermal like no place else on earth, we have hydro power, wind power, solar potential no worse then Germany, we have bio fuels and should be able to create other products like charcoal and ethanol and bio based petro chemicals and maybe fertilizers… all that BC has going for it and yet all the emphasis is on short term LNG bonanza that could very well be a mirage soon to pass.
Dow7501.
Vancouver, could have also been an end point,. Why did they not build a few LNG Plants there??
If you look at the terminals that receive this LNG you would see that they are also in remote areas, and piped to the mainland. So much for your argument of **end points**
Have a nice day.
There is too much natural gas on the world market currently, the majority of the proposals are not feasible any more. BC was too late to the LNG market to see the majority of the proposals to go online as they do not make financial sense to the companies. BC would be better off to focus on industries that it knows how to work with and has market demanded resources to meet (ie forestry/mining)
Well, if we’re gonna do this, we’d better get on with it, because we’re not the only players in the game by a long shot.
Our neighbours to the south are plowing ahead full steam to get their recent shale gas bonanza to market, and have just signed on for at least four new plants to come on stream as fast as possible, as well as one that is nearing completion now.
I realize we must proceed with due care and attention, but while we dither, the world has neither time nor intention to sit around waiting for us.
You dither you wither.
http://www.bloomberg.com/news/articles/2015-05-18/shale-poised-to-pummel-another-market-as-u-s-lng-plants-arrive
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