250 News - Your News, Your Views, Now

October 27, 2017 7:02 pm

Agreement Another Step Forward for Pacific NorthWest LNG

Sunday, February 5, 2017 @ 11:00 AM

Prince George, B.C. –  Two First Nations  have entered  into an agreement with the Federal and Provincial governments  on environmental monitoring of the  proposed Pacific NorthWest LNG project.

The agreement is the first of its kind,  and will see both the Lax Kw’alaams Band and the Metlakatla First Nation  working with  provincial and federal  authorities  to ensure the  project  is developed in an environmentally sustainable way.

The Government of Canada is committed to a renewed nation-to-nation relationship with Indigenous peoples based on recognition, rights, respect, co-operation, and partnership.

“We have always maintained the view that the environment is most important to us” said Mayor John Helin of the Lax Kwa’alaams Band ” and with this agreement in place, it will help protect the fish, waters and lands in our traditional territory. Any development can only take place if the necessary environmental protections are in place and this is an important step in that direction.”

The committee will enable enhanced environmental oversight of the Pacific NorthWest LNG Project through  information-sharing and continuous environmental monitoring and oversight. It will also enable the Lax Kw’alaams Band and Metlakatla First Nation to provide input into the project’s environmental management plans and follow-up programs.

The project has been under criticism  over its  Lelu Island  location  and docking  plan that would be in an area  critical to salmon.  Recently,  there has been  talk of possibly moving the  docking facility to Ridley Island although  such a move has not yet been  confirmed.



”Any development (of Pacific Northern LNG) can only take place if the necessary environmental protections are in place and this is an important step in that direction.” While this statement remains true, it is not even remotely complete! Here let me fix it.

Any development (of Pacific Northern LNG) can only take place if the market price of LNG rises to a sufficient level as to make the project “financially viable”. There how is that? Of course we all know the market price of LNG is nowhere near that price!

“The economics (of the project) require much higher LNG prices than are currently forecast for the next few years,” said Wood Mackenzie analyst Alex Munton. “That’s what we think will cause Petronas to pause investment until it’s more confident about future gas prices. Asian spot LNG prices have dropped by some 70 percent since 2014. Energy consultancy FGE has forecast the supply glut to peak at around 23 million tonnes a year by 2020 and persist through 2023.”

ht tp://in.reuters.com/article/canada-petronas-lng-idINKCN11Y1IQ

www .ctvnews.ca/mobile/business/japanese-oil-company-backs-out-of-b-c-liquefied-natural-gas-project-1.2896527

    BH, Have you heard of hedging and futures contracts.?

      Sure. And would you put your money up now for the incredible investment for this futures?

      With all due respect BH, in your response you just proved that you don’t know futures and hedging works..

I think we can call it more fake news. Again is everyone available to line up for a job fair before the election.

SAVE US Christy SAVE US!!!

This from Forbes:
Source: EIA; JTC
China’s Rising Natural Gas Demand, Pipelines, and LNG
Gas is China’s fastest growing major fuel, with demand quadrupling in the past decade. Gas is now about 6-7% of China’s energy demand, double the market share in 2007, and the Party seeks gas to be 10% of energy by 2020.

Cleaner, more efficient natural gas use is integral to China’s 5-year plans. The 13th Five-Year Plan (2016-2020) calls for the replacement of coal in non-power sectors either with natural gas and/or electricity. This is a very realistic and important evolution in China’s energy demand structure because power generation, which is the desired and highest form of coal use, only accounts for 55% of China’s coal use, compared to 95% in the U.S. today.
Someone’s pushing for LNG plants for export.
Perhaps Petronas knows something we don’t.

    It wouldn’t surprise me to see petronas has locked into a futures contract..

    Read. Renewable energy in China @ Wikipedia and have that fantasy again . The one about the future , I mean . It isn’t about pollution . It’s about security , energy security . If you have to rely on some other country for your energy , you are not energy secure .

      So ataloss what is the percentage of renewable in China?

      Still waiting!

    China’s major energy play is going to be LNG by their information. Yes increasing renewables but will always be a small percentage of total.

Would love to know the financial details of this agreement.$$$$$$$$ ???

hmm, what’s this? The words “first nations” in a story and comments are allowed? Will wonders never cease. See 12 comments on this story and not one that is even remotely racist. I guess we can behave afterall.

Petronas already owns a big stake in the Montenay gas fields. This is a huge world class resource. I’m sure Petronos will not move forward if there is not sound long term favorable economics. Unless they rely on BH for analysis. This project isn’t for short term gain. LNG will be a major energy component for years to come. Secure supply from a place like Canada will have a market. Solar and wind will not power Asia’s energy needs alone. Not even close, regardless what ataloss says.

Well a whistle blower who is safety retired out of NOAA has blown the whistle on them. Looks like those of that quoted NOAA as some puritan recorder of earths temperature have been taken for a ride. Surprise surprise. This is information that fake news organizations like CBC, GLOBAL, CTV AND EVEN OUR DEAR citizen will most likely not report on.

http s://wattsupwiththat.com/2017/02/04/bombshell-noaa-whistleblower-says-karl-et-al-pausebuster-paper-was-hyped-broke-procedures/

Wuwt is just one agency reporting this gross malfeasance.

    Just read the article!

    Veeeeerrrrrry interesting!

Comments for this article are closed.