# Petronas LNG in Prince Rupert, Happening or Not?
**URL:** https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980
**Category:** Prince Rupert Forum
**Created:** [January 2, 2016, 3:38am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980 "2016-01-02T03:38:28Z")
**Posts on this page:** 20
**Page:** 8
### Author:  [@hitest](https://forum.hackingthemainframe.com/u/hitest)
#### Post date: [January 15, 2016, 4:33pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/143 "2016-01-15T16:33:51Z")
> [@investor](#):
>
> Lastly, Grant, I think you should stop posting these marginally-relevant articles about spot prices.
I don’t think that Grant is breaking any rules with the articles he’s posting (he could work a bit on formatting as noted by MiG). You are free to counter his statements and point out errors.
---
### Author:  [@stglider](https://forum.hackingthemainframe.com/u/stglider)
#### Post date: [January 15, 2016, 5:23pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/144 "2016-01-15T17:23:31Z")
Another blow for the Investor!
The setback to Shell may stir unease from its investors already worried about the impact of the downturn in the oil market on its $48 billion acquisition of BG Group, which when finalized will turn it into the biggest LNG trader.
> **[UPDATE 1-Pakistan drops planned Shell LNG deal, to buy from Qatar-trade](https://uk.reuters.com/article/pakistan-lng/update-1-pakistan-drops-planned-shell-lng-deal-to-buy-from-qatar-trade-idUKL8N14Z2R9?irpc=932)**
>
> \* Deal worth close to $1 bln depending on oil price
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### Author:  [@investor](https://forum.hackingthemainframe.com/u/investor)
#### Post date: [January 15, 2016, 5:34pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/145 "2016-01-15T17:34:05Z")
> [@stglider](#):
>
> [http://uk.mobile.reuters.com/article/idUKL8N14Z2R9?irpc=932](http://uk.mobile.reuters.com/article/idUKL8N14Z2R9?irpc=932)
Again, someone is confusing a short term price movement with a long term trend. If Petronas was selling its LNG right now, your post would be relevant. But its not.
The second chart on this page shows how Pakistan’s demand for LNG is going to double over the next 14 years, at the same time as their own domestic production is falling. This is more or less the same chart as you’ll see across all the Asian nations.
[http://www.isgs.pk/growth-in-pakistan-energy-supply-mix-25](http://www.isgs.pk/growth-in-pakistan-energy-supply-mix-25)
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### Author:  [@katray](https://forum.hackingthemainframe.com/u/katray)
#### Post date: [January 15, 2016, 9:04pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/146 "2016-01-15T21:04:52Z")
Well, I can say I am not reading those big wall of print. As it is my freedom to not.
I read what I want and where I want. I make my own conclusions on LNG in BC.
These are large investments, they all take time. I am not going to read a total anti government bashing blogger to make my decisions.
Am I all in. Dam right! I own a house in Prince Rupert. That’s my bet.
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [January 15, 2016, 9:27pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/147 "2016-01-15T21:27:23Z")
> [@katray](#):
>
> I can say I am not reading those big wall of print.
Here, let me copy and paste a big article.
See, I’m right and you’re wrong.
Or should I say, I`m right and you`re wrong. 🍔
lol.
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### Author:  [@investor](https://forum.hackingthemainframe.com/u/investor)
#### Post date: [January 15, 2016, 9:41pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/148 "2016-01-15T21:41:34Z")
> [@katray](#):
>
> Am I all in. Dam right! I own a house in Prince Rupert. That’s my bet.
Buy another! Rents will go to the moon if the LNG project gets approved, especially anything in the luxury category. They’ll probably go up anyway with the port expansion and other activity over the next few years, even if LNG doesn’t go ahead.
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### Author:  [@Grant\_G](https://forum.hackingthemainframe.com/u/Grant_G)
#### Post date: [January 16, 2016, 1:21am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/149 "2016-01-16T01:21:53Z")
Well…I have another “wall” of information…And to be clear…Almost everything I posted is not mine…
Here■s a juicy article for you westcoast rousing rabblers…
* * *
## The Wall Street banks that financed the U.S. shale boom are facing growing losses as oil falls below $30 a barrel.
_Losses are spreading from bondholders to banks amid the worst oil crash in a generation. **Wells Fargo & Co., Citigroup Inc.and JPMorgan Chase & Co. have set aside more than $2 billion combined to cover souring energy loans and will add to that safety net if prices remain low** , the companies reported this week. Losses are mounting as more oil and natural gas producers default on debt payments and declare bankruptcy. Wells Fargo lost $118 million on its energy portfolio in the fourth quarter and Citigroup lost $75 million._
_## “It takes time for losses to emerge, and at current levels we would expect to have higher oil and gas losses in 2016,” John Stumpf, Wells Fargo’s chairman and chief executive officer, said during a Friday earnings call._
_Oil plunged 36 percent in the past year, putting an end to the debt-fueled drilling spree that pushed U.S. oil production to the highest in more than 40 years. **After years of spending more than they made, shale companies have parked drilling rigs and fired thousands of workers in an effort to conserve cash. In 2015, 42 oil and and gas producers went bust owing more than $17 billion, according to law firm Haynes & Boone LLP.** _
_## Growing Losses_
\ ***The weakness in oil and gas lending was a hot topic during bank earnings calls this week, and it’s clear that the potential for losses is snowballing the longer prices remain low. Wells Fargo’s energy reserves of $1.2 billion are enough to cover 7 percent of the $17 billion of the bank’s outstanding oil and gas loans.** \*
_JPMorgan Chase boosted energy loan-loss reserves by $550 million last year and said it will add another $750 million if oil stays at $30 for 18 months. Citigroup increased reserves by $250 million and that will go up by an additional $600 million in the first half of 2016 if oil prices remain at $30. If oil falls to $25, that number may double._
_Lenders are walking a tightrope between helping their clients stay afloat and looking out for their own bottom line. Borrowers with risky credit typically put up their oil and gas properties as collateral for their loan. Historically, lenders managed to get all of their money back, even in bankruptcy, by liquidating the assets. However, **foreclosing on a troubled borrower comes with the risk that the properties will sell for less than is owed to the bank.** _
_“We’re being appropriately tough to make sure that we protect the interests of the bank,” said John Shewsberry, chief financial officer of Wells Fargo, during a conference call on Friday. **“We’re working with each customer to help them work through this. It doesn’t do us any good to accelerate an issue or to end up as the holder of a number of oil leases.”** _
_“If banks just completely pull out of markets every time something gets volatile and scary, you’ll be sinking companies left and right,” Jamie Dimon, JPMorgan’s CEO, said during a conference call Thursday._
_[http://www.bloomberg.com/news/articles/2016-01-15/banks-brace-for-bigger-losses-as-oil-drops-below-30-a-barrel](http://www.bloomberg.com/news/articles/2016-01-15/banks-brace-for-bigger-losses-as-oil-drops-below-30-a-barrel)_
* * *
Now…You may say Petronas has lots of money…eerr…Perhaps not!..Here■s “wall” number II
* * *
Petronas :
## Signs $500 million term-loan pact with Mizuho Bank
_KUALA LUMPUR (NewsRise) – Petronas Gas, which processes natural gas and operates pipelines in Malaysia, signed a $500 million term-loan pact with Japanese lender Mizuho Bank to fund expansion among others._
-
```
The loan will mature in five years from the first drawdown, Petronas Gas said in a stock exchange filing. The loan is expected to finance "general corporate funding purposes" including capital expenditure, it said without elaborating.*
```
[http://asia.nikkei.com/Business/Companies/Signs-500-million-term-loan-pact-with-Mizuho-Bank](http://asia.nikkei.com/Business/Companies/Signs-500-million-term-loan-pact-with-Mizuho-Bank)
* * *
Hmmm…Petronas gets a $500 million dollar loan…Isn■t that sortta like $46 billion dollars Canadian?
Cheers
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### Author:  [@Gracies\_Mom](https://forum.hackingthemainframe.com/u/Gracies_Mom)
#### Post date: [January 16, 2016, 1:26am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/150 "2016-01-16T01:26:36Z")
I’m curious Grant, why do you even care what happens here in the Rupert area ?
Anyway here is some other info to ponder on.
> **[104466E.pdf](https://www.ceaa.gc.ca/050/documents/p80032/104466E.pdf)**
>
> 284.95 KB
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### Author:  [@investor](https://forum.hackingthemainframe.com/u/investor)
#### Post date: [January 16, 2016, 1:39am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/151 "2016-01-16T01:39:42Z")
> [@Grant\_G](#):
>
> Hmmm…Petronas gets a $500 million dollar loan…Isn`t that sortta like $46 billion dollars Canadian?
More utterly irrelevant information. Petronas has large bonds coming due in 2025, 2026, 2045 and other dates. It also has a number of bilateral loan agreements with banks and other institutions. $500mm is a drop in the bucket for a company this size. Like most large companies, it has a debt profile that extends over many years, and is continually being extended and managed.
As I stated before, Petronas has no plans to reduce its capex commitments. Just because you find an article mentioning Petronas and “debt” doesn’t mean you have the first idea about how companies or projects like this are financed. Please stop to think for just a moment before you post any more of this nonsense.
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### Author:  [@investor](https://forum.hackingthemainframe.com/u/investor)
#### Post date: [January 16, 2016, 1:42am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/152 "2016-01-16T01:42:14Z")
If you google his profile name, he sounds like an interesting chap 🙂
> **[BC's Era of Polarized Politics Is Over: Brown | The Tyee](https://thetyee.ca/News/2013/04/01/Polarized-Politics-Over/)**
>
> Campbell's former chief of staff on his counterintuitive new ethos, Liberal authenticity and advice for the NDP.
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [January 16, 2016, 7:17pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/153 "2016-01-16T19:17:54Z")
8 posts were split to a new topic: [“I believe you said more than enough…”](https://forum.hackingthemainframe.com/t/i-believe-you-said-more-than-enough/17003)
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### Author:  [@PLA](https://forum.hackingthemainframe.com/u/PLA)
#### Post date: [January 18, 2016, 7:04am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/154 "2016-01-18T07:04:14Z")
Just stumbled upon a Globe and Mail article via the Flipboard app, which reported that the federal scientists with the DFO said the project poses low risk to the environment in regards to Flora Bank.
[Quote]“The effects of the marine structure on fish and fish habitat have been categorized as having a low potential of resulting in significant adverse effects,” Fisheries and Oceans Canada said in a letter last week to the Canadian Environmental Assessment Agency (CEAA).[/Quote]
And they go on to saying PNW’s environmental protection plans are reasonable.
[Quote]The federal scientists conclude that Pacific NorthWest’s plans to protect Flora Bank are reasonable, as long as the venture’s backers introduce a long-term monitoring program, implement measures to mitigate harm to fish habitat and adhere to a series of other recommendations to protect the Skeena River estuary.[/Quote]
Link: [http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/bc-lng-project-poses-little-risk-to-environment-federal-scientists-say/article28234387/](http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/bc-lng-project-poses-little-risk-to-environment-federal-scientists-say/article28234387/)
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### Author:  [@investor](https://forum.hackingthemainframe.com/u/investor)
#### Post date: [January 18, 2016, 3:16pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/155 "2016-01-18T15:16:41Z")
So the approval from CEAA is pretty much a given now.
Let the good times roll, Prince Rupert!!!
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### Author:  [@bthedog](https://forum.hackingthemainframe.com/u/bthedog)
#### Post date: [January 18, 2016, 4:54pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/156 "2016-01-18T16:54:25Z")
The project support recommendations from DFO and Natural Resources Canada is simply put…A HUGE DEAL.
This will be a HUGE boost for CEAA to approve the project.
The naysayers can no longer imply these two government agencies are in opposition to this project and they can stop using recommendations that are more than 40 years old as well.
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### Author:  [@PLA](https://forum.hackingthemainframe.com/u/PLA)
#### Post date: [January 19, 2016, 4:24am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/158 "2016-01-19T04:24:48Z")
> [@bthedog](#):
>
> The naysayers can no longer imply these two government agencies are in opposition to this project and they can stop using recommendations that are more than 40 years old as well.
It’s been 21 hours since my last post, and haven’t heard from Grant\_G and Co. Usually he post big walls of text every half hour.
Probably too busy madly digging stuff on Google. lol
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [January 19, 2016, 4:57am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/159 "2016-01-19T04:57:14Z")
Didn’t a couple of them rage quit recently?
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### Author:  [@PLA](https://forum.hackingthemainframe.com/u/PLA)
#### Post date: [January 19, 2016, 6:00am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/160 "2016-01-19T06:00:37Z")
They did 6 days ago… then came back.
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### Author:  [@Grant\_G](https://forum.hackingthemainframe.com/u/Grant_G)
#### Post date: [January 19, 2016, 9:43am UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/161 "2016-01-19T09:43:11Z")
Breaking News…Petronas to defer PNW LNG into the future…In other words…Cancelled, Kaput!
> **[It Looks Almost Certain That Petronas Will Defer Their British Columbia...](http://powellriverpersuader.blogspot.com/2016/01/breaking-newsit-looks-almost-certain.html)**
>
> Malaysia’s Petronas to Slash $11.4 Billion in Capital, Operating Expenses KUALA LUMPUR, Malaysia—Malaysia’s state-oil firm Petrol...
“Dare to dream” you Westcoast rousing rabblers!
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### Author:  [@MiG](https://forum.hackingthemainframe.com/u/MiG)
#### Post date: [January 19, 2016, 4:14pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/162 "2016-01-19T16:14:04Z")
A post was split to a new topic: [The $11.4-billion question for Petronas](https://forum.hackingthemainframe.com/t/the-11-4-billion-question-for-petronas/17007)
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### Author:  [@stglider](https://forum.hackingthemainframe.com/u/stglider)
#### Post date: [January 19, 2016, 5:19pm UTC](https://forum.hackingthemainframe.com/t/petronas-lng-in-prince-rupert-happening-or-not/16980/164 "2016-01-19T17:19:48Z")
Where’s the Investor? PLA, Gracie mom???
Probably to busy madly digging stuff up on Google! lol! oh and can’t 4 get the Dog!
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