MiG…Petronas is already gone…Michael Culbert is no longer the CEO of PNW LNG…Petronas will probably never really leave B.C…Petronas is playing politics…Petronas, if they build, won’t put a shovel in the ground until 2020…Why 2020…? To have completion coincide with Site C dam completion(free electricity)…Free for Petronas, not free for BCers…
Anywho…Altagas has scrapped their Douglas Channel floating LNG project, no LNG buying customers…
And, have you heard…Jordon Cove LNG has been scrapped too…That project would have sourced natural gas from B.C…
Need more Mig?..
Two more LNG terminals Kaput…
No buyers, none, not even one LNG off take buyer…
By the way MIG…The way you and your group insulted me…Was pretty bad, yet in my heart and soul, you all miss me…You Mig may even love me…I feel the same way about you…Maybe we can chit chat together one day…Cheers Eyes Wide Open
hate to break this to you Grant but Petronas does not need buyers, their buyers are their partners in the project, again for the umpteenth time their partners are their buyers, they are obligated to buy whatever percentage they have in the project, so plz plz plz stop saying they have no buyers.
oh and Grant before you post maybe you should read your own links LOL you claim Culbert is no longer CEO of PNW, technically your right but he is the president.
here is a quote from one of your links
said Michael Culbert, president of both the project and Petronas’s Canadian subsidiary, gas producer Progress Energy Canada Ltd.
Well, not exactly true…only 60% of the gas is spoken for…Petronas needs some actual cash buyers…Because…Equity partners don’t pay a premium…And, like I said before…If those equity partners have to pay a $billion or two upfront, only to end up paying $10 dollars per MM BTU, when they can keep their money and ink longterm contracts for $5 or $6 dollars per MM BTU…If I was a shareholder, or CEO…I’d run for the hills, save the company money in both the short term and longterm…
Are you going to fly me in or do I have to burn a bunch of gas driving there…Or perhaps I’ll cruise into port via cruiser…Just let me know where the submerged booby traps are…
“We are continuing to move that forward and we believe we are in the final stages to a final decision,” said Culbert, who is stepping down April 1 from the LNG leadesrhip role to concentrate on the upstream end of the project_.”
Need more…Read this, LNG prices are trading well below $5 dollars per MM BTU’s…Equity partners can keep their investment and source longterm LNG cheaper than what it would cost them to get it out of the ground in B.C…Not to mention liquefying, transporting etc…
That’s all fine, @Grant_G, but your prediction was that Petronas would pull the plug in “early March” and they haven’t. Were you wrong in your prediction?
It’s amusing how some people can’t even manage a “Yes Mig, my prediction that Petronas will pull the plug in early March was wrong. I still stand by my opinion that they will ultimately pull the plug.” Is that really so hard? Apparently it is, and it amuses me.