You people didn’t read the article!
Rich Coleman, had this to say on the “naysayers”.
“Those pessimists, to be frank, are short-sighted; reluctant to admit LNG is making progress, creating jobs and securing long-term prosperity for all of us.”
While I appreciate his desire to create jobs for Canadians, I can’t admit that this project makes economic sense at the current price. The CEO of LNG Canada, Andy Calitz.
Well done, you found another random blogger that believes an LNG project won’t happen. Who is Jesse Moore anyway? SeekingAlpha is a website where pretty much any retail investor can write what they want. No one is checking his numbers or assumptions.
On a separate note, my tea leaves this morning strongly suggest that LNG will happen in prince Rupert. What do you say to that?
to me it looked like SeekingAlpha blog was a short sellers blog, hoping things don’t happen because that is what they bet on in the stock market.
It’s a website where anyone can sign up and write a blog about their investing ideas. There are no real professionals on there as far as I know, apart from financial advisors trying to sell themselves. They have a massive volume of articles.
Yeah, all the professionals are here on HTMF 
I truly want to Hear alternatives…S
Thanks Stglider…You are correct, I owe no one an apology…Comparing a election outcome to the LNG future is a sad pathetic attempt to discredit me…I ain`t taking the bait …
Anywho, as for the “key permit” the B.C. Oil and Gas Commission issued…and as for the 40 year export license the NEB has granted…It`s all white noise…The NEB has granted near 20 westcoast LNG export licenses…!!!..Still no FIDs…
http://www.neb-one.gc.ca/pplctnflng/mjrpp/lngxprtlcnc/index-eng.html
In fact, the NEB granted an export license to Quicksilver Resourced(Their proposal was for Campbell River)…The problem is…Quicksilver is in chapter 11 bankruptcy, .delisted from the New York stock exchange…And…the NEB granted Quicksilver their export license AFTER THEY WENT BELLY UP…
That is pretty pathetic…You can read about that gong show here…
And here is a posting about the brain surgeons at the NEB…
Now let`s examine that so-called 40 year export license that Shell Canada received …Are you ready.
(
Written by Grant G
There has been lots of news on the British Columbia LNG industry as of late…And, the news has been bad, really bad…
Mr. Jarvis, the executive director of Energy Services B.C. stated last week, and I quote…
“2015 has been the worst year in over a decade for the natural gas industry”
Mr. Jarvis went on to say…
“LNG investment may be too late after 2016”
“A triple whammy”
Jarvis says LNG workers suffered in 2015 due to three main factors, including cuts — as much as 20 per cent — to companies’ profit margins, fewer projects, and more competition for jobs due to waning LNG sectors in other provinces.
“We’re kind of hit with a triple whammy in this region,” he said.
“What that means of course is less income to the communities, less income to the province, and of course, [it’s] pretty tough to be sustainable,” said Jarvis.
Dwindling opportunity
Mr. Jarvis also said the same thing and a whole lot more in this radio interview…
Have a listen(link directly below)
I have written on many occasions this…Every time bad news on the British Columbia LNG front rears it`s ugly head the following days out comes artificial LNG hype and spin,
The artificial spin and hype is generated by the BC Liberals and their spindoctors, or in this particular case…The spin and hyperbole is being generated by the British Columbia Oil and Gas Commission…Not a regulatory body, it is a BC Liberal creation called the British Columbia Oil and Gas Commission(also known as the British Columbia Energy Industry Gift Shop).
The very next day after the CBC story and radio interview with Mr. Jarvis…A article and radio interview where you can hear and feel the panic in Mr. Jarviss tone....the very next day out came this, courtesy of the British Columbia Oil and Gas Commission...And of course British Columbias domestic newspaper ran the article(posted the junk news)…That article linked directly below
And…the hilarity of the article, not so much as to what was said in the article, but the headline of the article…Here is that headline
This so-called “key permit” was issued by the B.C. Oil n Gas Commission…When has this BC Liberal creation ever denied any permit to the energy/natural gas industry, how many leaked stories about how this commission has granted illegal water- draw permits, even as northern streams and lakes are near dry…The point I`m making…
Three environmental groups have filed a lawsuit against the British Columbia Oil and Gas Commission and natural gas company Encana over the use of water from B.C.'s lakes and rivers.
The suit, filed Wednesday in B.C. Supreme Court, claims the commission has granted repeated short-term water licences, in violation of the provincial Water Act.
The environmental groups say as Encana proceeded with the fracking process to extract natural gas from underground reserves, it drew 880 Olympic swimming pools worth of water over three years from the Kiskatinaw River, which supplies drinking water to the city of Dawson Creek.
Shell Canada was never ever concerned about getting a go-ahead and build nod from BC`s Oil n Gas Commission…All British Columbia permits required to build, or pipe gas, ship gas, pollute gas are already guaranteed…The B.C. Oil n Gas Commission has denied nothing…The Vancouver Sun…The Province Newspaper are well aware of this fact…
In other words…The BC Oil and Gas Commission granted a permit to build to (Shell Canada).,a building permit that Shell Canada knew was guaranteed long ago, never in doubt…The news nugget? was merely pulled out, it was pulled out of a hat like a magician and his rabbit…
Christy Clark and Rich Coleman are still playing blind man`s bluff…Still trying to keep the LNG bluster alive, and this will continue through to the British Columbia 2017 election…And, you can take this to the bank…by election time 2017…British Columbia will still not have an LNG terminal shipping LNG…By election 2017 …We will still have vague promises of FIDs soon…of course that will come with a warning…elect BC Liberals or the $trillion dollars and million new LNG jobs will vanish…blah blah blah…
Remember last summer, the special legislative session …Where the BC Liberals rammed through a PDA(project development agreement) for Petronas…Remember that generational giveaway… …The tax rate slashed, greenhouse gas rules removed, everything granted to Petronas…
The BC Liberal Corporate Party granted the B.C. Oil N Gas Commission new powers…Granting a “build permit” was never before in their purview…Ah.But those rascally BC Liberals changed that…and…
And Stephen Harper was busy toiling away on behalf of the energy industry too…
Stephen Harper(The oil obsessed Prime Minister) was still in power, and he was busy, not only did he appoint more energy industry hacks to the NEB(National Energy Board)…Stephen Harper granted the NEB new powers…
After helping Kinder-Morgan lobby for the Trans-Mountain expansion, now Kelly will be on a board that is regulating pipeline construction. The NEB has already been criticized by the Sierra Club of Canada for creating regulations it claims benefit oil companies drilling in the Arctic.
Marc Eliesen, former CEO of BC Hydro said: ““It’s utterly incredible the Government of Canada would appoint such an industry consultant to a regulatory agency that presumably is interested in the public interest, and not in the interest of multinational oil corporations.The NEB have totally become a captured industry regulator." ”
Well…That “key permit” article wasn`t enough to quell the naysayers…the time was ripe to flex those newly granted NEB powers too…
http://www.lngworldnews.com/lng-canada-granted-40-year-export-licence/
The Canadian National Energy Board granted a 40-year licence to LNG Canada to export liquefied natural gas from its liquefaction facility to be built near Kitimat, British Columbia.
Under the licence, which still has to be approved by the Governor in Council, LNG Canada is allowed to export 1494 billion cubic metres, NEB said in its statement on Thursday.
According to the regulator, this is the first 40-year licence since the amendment of the National Energy Board Act in June 2015.
It was concluded that the volumes of liquefied natural gas LNG Canada plans to export are surplus to Canadian demand.
The joint venture set up by Shell, Kogas, Mitsubishi and PetroChina received a facility permit for its proposed liquefaction plant that would initially consist of two 6.5 mtpa LNG production trains with an option to expand the facility with additional two trains.
The NEB only had the power to grant 25 year export licenses…after the Harper NEB amendment, they can grant 40 year export licenses!!!
Like I said…Those new NEB powers were flexed yesterday too…Right, …BC Liberals needed another bit of LNG news to keep the “con” going…The Governor in council highlighted above…That is Federal Jurisdiction…That still needs to be approved…
We`ll see what happens with that approval which is under Justin Trudeau control(or is it?)…
Anywho, what does all of the above really mean?..Not much at all…all it does prove is that BCs domestic media are still ball-less wonders, still in the hands of the BC Liberals and big industry...Means there is still no quality journalistic LNG news coverage coming from British Columbia oriented mainstream media..Vancouver Sun..The Province..CTV..Global..CKNW..When it comes to LNG coverage BCs media are still mailing it in…
Lets get to the meat of the issue, there is still a world glut of LNG..There is still gobs and gobs of new LNG supply coming online, including USAs Sabine Pass operation, they have started shipping LNG… the price is still in the tank and China can no longer hide their recession… China can`t afford to build anymore ghost cities…
But what about Shell Canada, what about those BC Liberal generated stories, it must be true right?..No, just spin…
Here is how the story should have been reported in our domestic papers…
The BC Oil & Gas Commission (BCOGC) on Tuesday authorized, subject to local safety and environmental conditions, a Kitimat processing and tanker-loading complex for up to 3.7 Bcf/d planned by the group of Shell (50%), PetroChina Corp. (20%), Korea Gas Corp. (15%) and Mitsubishi Corp. (15%) (see Daily GPI, July 6, 2015).
The approval is the first of many in the works at the BCOGC, which last year delegated exclusive power to make terminal site construction decisions on the long lineup of BC overseas gas export projects to the commission.
LNG Canada previously received federal and provincial environmental approval, hired a construction general contractor, made a power supply deal with provincial government-owned BC Hydro, and lined up benefit agreements with the Kitimat native community.
The LNG Canada group has been working on its export scheme for about five years, and Shell had said it would make a final investment decision about the project in 2016 (see Daily GPI, Nov. 10, 2014).
In the biggest part of the preparations, Shell has emerged as a top producer in the Montney formation, tapping the shale-like and liquids-rich “tight gas” formation straddling northern BC and Alberta for about 410 MMcf/d with horizontal drilling and hydraulic fracturing techniques (see Shale Daily, Jan. 4).
The gas currently goes to traditional markets in Canada and the United States, including northern Alberta thermal oilsands extraction where Shell is senior partner in one of the biggest bitumen mining and synthetic crude upgrading complexes.
In announcing the BCOGC permit, Shell indicated full-scale construction remains a considerable time away and is not a sure bet.
The company called the ruling “an important step forward” but added that “the project must ensure it is economically viable and meets several other significant milestones including finalizing engineering and cost estimates, supply of labor, and achieving other critical regulatory approvals before making a final investment decision.”
Shell has been pulling back across North America and in December sharply reduced its development plans for 2016 (see Daily GPI, Dec. 23, 2015).
All the money Shell Canada is spending on site prep work and logistics is pocket change pennies to that behemoth corporation, they can write it off as a business loss
Shell Canada can also just walk away and not lose a minute`s sleep over it…
The window of opportunity has closed…Maybe a new round of terminals will be built in the next decade…and or maybe the sheep in the world will wake up to the fact that LNG is the dirtiest fuel, not a bridge fuel and it`s money wasted when countries can spend less money in the longterm by building green renewable energy…
It might be easier to read if you go to this link…
Sorry folks…“you can lead a horse to water but you can`t make him drink the Kool Aid”
I have one more doozy of an article for you, get ready to cringe with delight…
Limited LNG demand seen from China, Argentina
Standard Life to vote against Shell’s takeover of BG Group
Jan 8 Asian liquefied natural gas (LNG) prices fell further this week amid a global supply glut, extending 2015’s trend, despite pockets of fresh demand from China and Argentina.
The price of Asian spot cargoes for February delivery was pegged at $6.50 per million British thermal units (mmBtu), down from $6.90 at the end of last year. Traders said prices for March were even lower, with one trader saying prices for summer months have fallen below $5.00.
“LNG has been falling off a cliff the last few weeks,” one trader said.
A wave of LNG set to hit the market from new projects in the U.S. and Australia, along with falling oil prices, kept sentiment bearish despite some fresh demand from China, which purchased some cargoes to meet demand driven by colder weather, and Argentina’s tender to buy nine cargoes for January to March delivery.
Oil prices plunged to 12-year lows on Thursday after China allowed its yuan currency to slip, sending stock markets tumbling globally.
Amid a global supply glut of LNG, U.S.-based Cheniere Energy is set to load its first cargo next week, the first U.S. export of LNG, as domestic drilling booms.
Also on the supply side, the Australia Pacific LNG (APLNG) project delayed its first commercial cargo, racking up costs for China’s Sinopec Corp, which has had a tanker waiting to load for more than two weeks.
Traders said the cause of the delay was not clear.
Royal Dutch Shell’s $49 billion acquisition of BG Group, creating the world’s largest LNG shipper, is facing resistance from Shell shareholders with Standard Life saying it will vote against the acquisition. (Reporting by Sarah McFarlane;
$5.00 dollar per MMBTs…And Petronas needs $12 dollars to get a minimal return on investment…
Hmmm…And the wave of new supply hasn`t even arrived yet…
I drink Earl Grey tea…Not blood-red Kool Aid!
Cheers Eyes Wide Open
@Grant_G
Ever heard of TL;DR?
Meanwhile, here is an actual quotation from PNW LNG yesterday. It makes much more interesting reading than Grant_G’s irrelevant waffling about spot prices.
Mr. Culbert believes the consortium will find a sweet spot as early as 2020, since the venture’s co-owners are financial backers and also “off-take partners” – long-term buyers of LNG in Asia. “Placing this LNG into the market in the 2020 to 2021 time frame is extremely important,” he said in an interview. “Time is of the essence, time is important to our project. We’ve positioned ourselves to be shovel-ready once we get the decision from CEAA.”
Ever hear of countering an argument without insulting your opponent by saying his post is too long, didn’t read?
Just argue the points made. Thanks.
Well, considering your original response, clearly you did take the bait.
But ironically I wasn’t trying to discredit you at all. I was only asking a simple question. Are you as sure about Petronas not building on Lelu as you were about Christy Clark not winning the election.
I was surprised at how individuals were completely certain about the outcome of this LNG project. The debate shifted from SHOULD it be given approval based on environmental concerns to whether it WOULD go ahead. atsea way back when was posting articles indicating that he was opposed to the project, People like jabber63 posted counter arguments saying it should go ahead. Interesting discussion (if people are inclined that way) but no matter what the outcome both can still hold to their original opinion.
Not so with a prediction about a future event. It is either going to happen or it isn’t. We make predictions all the time. Sometimes we are absolutely certain of an outcome and sometimes we have our fingers crossed. And sometimes these outcomes turn out and sometimes they don’t.
You were wrong about the 2013 election as were many. No big deal. But you were absolutely certain of the outcome unlike someone like me who always follows Yogi’s truism: “It ain’t over 'til it’s over.” I never would have written your piece about the 2013 election as much as I agreed with your sentiment. I could have written much of what you said about the corrupt, incompetent Liberals but I would not have been able to predict with certainty the outcome. I am just not that confident in my ability to prognosticate. That’s why I asked the question I did.
But I see now that I don’t have to ask you the question any longer.
Well yeh I doubt there will be any shipping by 2017 considering the amount of time it will take to build but the second part “vague promises of FIDs” make the prediction more interesting. You see nothing happening with Petronas - no building, no FIDs, nothing by election 2017? And we can take that to the bank? Over to you jabber63 and investor.
Well DWhite, I think I’ll be betting 45% chance the LNG port will ever be built, based on the current situation. Don’t get me wrong, I for one like to see it built. I know the Yes side will criticize me of being pessimistic, while No side will accuse me of being too generous.
Meanwhile, Grant_G and stglider continue on their usual pointless ramblings, and throwing tantrums and insults when being called out. I bet 100% they’ll tell me to “go fyck yourself” within the next couple of hours, but I could be very very wrong.
And that’s just it. If I were forced to bet, I would likely put my money on it not happening at least by next election. And there is no particular reason for saying that… I might bet a toonie, but I am certainly not betting the farm and I am certainly not taking it to the bank.
And the sad part of all this is that raised expectations of growth and wealth just makes it all that much harder to take if it doesn’t happen. The whole LNG (trillions and trillions and trillions) industry became much more personal for us especially considering the recovery we are making/trying to make after the mill shut down and the fishing industry collapsed. The trillions for the province certainly isn’t going to happen over the next 15-20 years as promised but we will just have to find out if our area will benefit from a single project.
Hello west coast rousing rabblers…I thought you might enjoy a trip through the way back time machine…
Compare the rhetoric to the reality…
Cheers
It’s been 7 hours now… how much did I owe you again, DWhite?
bet he won’t say go fridge yourself 
How much are you willing to bet on that? lol
Here’s an industry article about demand for gas in China. It mentions PNW LNG and one of the Chinese stakeholders. Some interesting numbers re their growing demand for gas. You can also see how they are diversifying their supply. I’ll reprint the first part of the article as I think ti might be behind a paywall.
http://interfaxenergy.com/gasdaily/article/18852/china-huadian-goes-on-an-lng-for-power-hunt
State power utility China Huadian wants to buy more imported LNG to fuel its future fleet of gas-fired power stations, according to a senior company official.
Huadian is increasing its gas-fired power generation capacity as China clamps down on the use of coal. The government aims to raise the share of gas in the energy mix to 10% by 2020.
The company’s gas-to-power capacity has nearly tripled over the past decade, rising from 2.73 GW in 2005 to 7.76 GW in 2014, according to Xie Chunwang, general manager of Huadian Clean Energy. It is expected to have hit 8.28 GW in 2015.
Gas-fired power made up 6.33% of Huadian’s capacity in 2014, higher than the industry average of 4.16%, making it China’s biggest gas power producer.
Huadian aims to increase its capacity to 19 GW by the end of 2020 and 30 GW by 2030. Around 5.57 GW is under construction and another 8.64 GW is planned.
Its plants will use 13 billion cubic metres of gas per year by 2020, but the company has only secured 7 bcm/y of supply. “We are seeking cheap LNG to secure gas power development over the next few years,” said Xie.
So far, Huadian has signed up for 2.6 mtpa in three separate deals. It inked a non-binding heads of agreement with Chevron in December to offtake 1 mtpa from the Gorgon project in Western Australia for 10 years starting in 2020.
It also signed sales and purchase agreements to offtake 600,000 tpa from the Petronas-led Pacific NorthWest LNG (PNW LNG) project and up to 1 mtpa over 20 years from BP. It has a memorandum of understanding to buy LNG from Singapore’s Pavilion Energy from 2020.
The 600,000 tpa from PNW LNG is Huadian’s equity LNG from its 5% stake in the British Columbia-based project. Huadian will be able to purchase up to another 500,000 tpa from the project, according to Xie, who added that deliveries will start in 2023. The company was the first of China’s ‘big five’ state power utilities to invest in an upstream gas business.
Huadian will need to increase its generation capacity by an average of 18% per year between 2016 and 2020 to hit its 19 GW target. This compares with 11% over the 2011-2015 period and 10% between 2005-2010, said Xie. The growth rates attained by the company in the previous five-year periods were already impressive, Liu Guangbin, an analyst with energy data provider Sublime China Information (SCI), told Interfax.