Petronas LNG in Prince Rupert, Happening or Not?

atsea! don’t worry its Not Going to Happen!

…BC`s LNG industry is,…as reported almost exclusively by The Straight Goods …Kaput, on life support, nothing but fumes wafting about.


so let me get this straight, a mickey mouse blogger has the straight goods eh? LOL hold the presses Petronas is anxciously awaiting his views on LNG. So Progress Energy is spending about 2 billion a year up north drilling for natural gas, petronas partners are guaranteed to buy the gas from the plant that WILL BE BUILT on lelu island, but low and behold the powell river persuader blogger the great LNG predictor, is saying it won’t be built, if I was him I would go back to my old job LOL

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Ah yes, the Ezra Levant of left-wing journalism.

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I thought this blog was more like The Onion.

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stglider’s prediction (said with 100% certainty): its Not Going to Happen!

Jabber63’s prediction (said with 100% certainty): the plant WILL BE BUILT on lelu island

DWhite’s prediction (said with less certainty than those above): One of you will be very wrong.

I went to my favourite online betting site to see if they were taking odds on this but alas not so far. However, if you are into betting on the name of the next pope, Francis and Leo currently lead at 4/1 while surprisingly Pope Paddy Power is the underdog at 500/1.


yes I have stated it will be built on Lelu Island if they get the CEA approval, and yes if I was a betting man I would be betting it will get it, I read the same globe and mail articles as everyone else and still come to the conclusion Petronas wants to build now, not latter, the way the ownership is designed for the plant on Lelu it means the partners have to buy from the plant so it doesn’t matter if there is a surplus or shortage of LNG, second with a high US dollar now they can build things about 20% cheaper now. Lets face it even the environmental groups think it will get approval why else the full court press with the medai

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Your logic is flawed…PNW LNG…It will cost Petronas about $10 per mmbtu, …They need a selling price of $12 to make a return on investment…Equity partners don`t spend $billions of investment dollars to pay a higher price than the open market, …or spot market…

New LNG purchase contracts are being written for longterm …The price…Below $8 dollars…

Are you Jabber going to spend a $billion dollars?..And pay more for LNG than you can purchase it for in 2016…Longterm contracts for LNG are being written for below $8 dollars…

I wrote the below article in 2013…

Here`s a link to the article about the new price level for longterm LNG buys…

What sane person would spend a $billion or two for the privilege of buying LNG at higher prices than what is already available from existing producers?

Cheers Eyes Wide Open

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It’s an article requiring subscription to an unknown news site…

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You’re forgetting a few things.

  1. Petronas has already spent a ton of money on this project. Those are largely sunk costs that they won’t get back. If you’re factoring them into your $12 target price, your logic is flawed. Petronas won’t be considering them in their final decision.
  2. You’re also not factoring the dramatic reduction in costs thanks to:
    a) the drop in the loonie
    b) the implosion of the oil industry
    Both of these mean that Canadian labour and resources are on sale right now.
  3. They are looking longer term. No one believes that WTI oil will be trading this low in 5 years, and natural gas will certainly be higher too.
  4. You’re probably underestimating the value of stability. The Asians will happily pay a little extra to diversify their energy supplies away from Russia, the Middle East, etc.
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Unknown website…??? Google up LNGjournal, they are all LNG all the time…And no, they aren■t anti-LNG, they represent the LNG industry…As does this outfit…They represent the LNG industry too…

They reported the same thing…Hey, I dont mind debate....But dont be childish, show me facts!

Like I said, Japan■s LNG use is in freefall, the return to nuclear, South Korea too…Existing LNG producers are inking new longterm deals for new low-ball prices, yes indeed, they are well aware of the gobs of excess LNG on the market…There is no market for the current output…High-priced LNG is dead-in-the-water…

Bottom line, more LNG sellers than buyers…Who wouldnt lower their price, especially when you cant store very much…

Asian buyers are in the cat bird seat…


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You’re desperate… I said “unknown” only because I’ve never heard of them before, and they want your money to read their stuff. lol

What wrong with other reliable sites? Like you know: CBC, CTV, Financial Post, ROB, BNN, CNBC, Yahoo, etc… many of them doesn’t require subscription to read their articles… lol

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I think the complaint was that the article was behind a paywall.

Perhaps you could quote some of the article, or provide a link to where it may be read for free?

To be fair you can’t really “show the facts” by linking to a paywall.

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Thats rich..Financial post, you get only a few free articles..LNGJournal is only LNG..CBC gets money from taxpayers..CTV has junk TV shows..LNGJournal has no ads...I dont subscribe, I get a few free articles from them per month…I source their stories through other means…


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[quote=“Grant_G, post:13, topic:16980”]
CBC gets money from taxpayers…CTV has junk TV shows…[/quote]

Losing your marbles again…

What does these have to do with finding reliable articles? lol

PS: Financial Post is free, no limitation.

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Why don■t you say something about LNG…What have you got?

Call me when Petronas builds…Ahh…Silence

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Where’s the article? lol

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They don’t want to hear the truth because they can’t handle the truth!

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Where’s the article? The treasure he’s been looking for on Google for ages?

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I already replied to your post with four points that you missed. I guess you’re ignoring my reply because it actually makes sense?

Your website is a little wacky by the way. What’s your stance on the Moon landings? Real or fake?

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Here you are…Read this…Old LNG buying contracts torn up, new longterm LNG contracts being signed, the price, in this case, under $7 dollars…

*"India’s largest LNG importer, Petronet said it has come to an agreement with RasGas of Qatar to revise the 7.5 mtpa LNG import deal terms significantly cutting the price. *
Under the initial deal signed in 1999, Petronet agreed to pay about US$13 per million British thermal units, while the revised price is reduced to around US$6 to US$7, according to India’s minister for petroleum and natural gas, Dharmendra Pradhan.

Additionally, Petronet has avoided paying the US$1.5 billion penalty for taking less LNG than it contracted for 2015, but under the new agreement, it will have to take and pay for all of the volumes it has not taken in 2015 during the remaining term of the 25-year SPA.

Petronet also agreed to buy additional 1 mtpa of LNG from RasGas for further sale to Indian Oil, Bharat Petroleum, GAIL and Gujarat State Petroleum, with the delivery starting in 2016"

I don`t waste any breath on someone named INVESTOR

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