do you speak 4 everyone on here ? I think not…
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Well well well…I have more news on the world LNG front…Argentina has just announced that they will not be buying anymore LNG…the reason?..
They can’t afford and domestic gas supplies are ample…in other words…South America is now a dead LNG market.
http://www.lngworldnews.com/report-argentina-to-stop-lng-imports-in-six-years/
"Argentina is planning to stop LNG imports in the following years as the domestic gas production rises, according to the country’s president Mauricio Macri.
He noted that the expensive LNG imports could be completely phased out in a period of five to six years, Platts reports.
Argentinian energy minister, Juan Jose Aranguren earlier said that discontinuing LNG imports would bring savings to the country, as domestic gas is cheaper than imported liquefied natural gas. In addition, Argentina would save US$100,000/day in rental fees for two floating regasification units."
Need a little more LNG sauce?
Japan is now citing anti-competition laws and free-trade agreements…What am I talking about?
Japan has too much LNG, they bought this LNG under longterm contracts…
Japan wants permission to resell the cargoes into the world spot market…Barring the energy company’s cooperation…Japan wants old LONGTERM LNG buying contracts shredded…
http://www.lngworldnews.com/report-japans-ftc-investigating-lng-destination-clauses/
"The global glut has improved the bargaining position of Japanese LNG buyers that could shift from traditional buyers to sellers.
Currently about 80 percent Japanese, as well as South Korean, long-term import contracts have a destination close according to study conducted by a law firm Nishimura & Asahi for Japan’s Ministry of Economy, Trade and Industry (METI).
In its report in May, METI said that for a flexible LNG market the destination clauses “need to be eliminated to the greatest extent possible to increase the number of market players as well as trade volumes and frequencies to a level exceeding a certain critical mass.”
The results of the Fair Trade Commission’s investigation is expected to bring results by the end of 2016."
As for the BC Liberal British Columbia LNG fantasy…The gig is up!
Cheers
Woop Dee doo !!! Don’t you have better things to do with your life ?? Why do you even care ?? You don’t live here. I think you have an obsession, maybe time to go see a shrink.
Let us stick to debating the issues around LNG. Please avoid insults, folks. Thanks.
I don’t know what I did or said that so upset Gracies_mom…Whatever it might be…Sorry…
Anywho, …As you fine folk can see, I only post LNG related news…
I really don’t think any proponent is going forward …However…
If one were to go forward, they will time it to come online in or about the time Site C is completed(2026)…in order to access free(BC Taxpayer paid for hydroelectric power)…
But in all honesty, my views, no big land-based LNG terminal will be built…Maybe a floating facility will be barged here from South Korea…All it requires is a pipeline full of gas to chill…
However, if that happens the jobs will be near nil…minor site prep and pipeline work…
Cheers
Sorry about the insults but I find it offensive that Grant G seems to find great pleasure in hunting for lng news. Does Grant G not realize that many in north east bc and here in the north west would like to see lng. There have been plenty who have been involved in the planning and site preparation and still are working. There is still people working at 3 of the sites in our region. Who knows if it will actually happen but our regions need it.
kind of funny you claim LNG plants will use subsidized Site C power, by the way Petronas is using it’s own natural gas to power itself, and then you post a link about Argentina, did you actually read how they are going to stop importing LNG? probably not, but here is a quote from that article
In 2016, Argentina will import 85 to 90 cargoes priced at $6.5 per mmBtu, which is above the average $5.2 per mmBtu price of the domestically produced gas, or $3 per mmBtu for gas imported via pipeline from Bolivia, the report said.
The government increased incentive price from new developments to $7.5 per mmBtu and the production has jumped 6.6 percent in the first four months of 2016 reaching an average of 121.2 million cubic meters per day.
in other words they will pay more for natural gas to companies drilling in their country then they are paying on the world market, in other words they are going to subsidize them. so this article has nothing to do with over supply or pricing, it has no bearing on anything about Petronas
The hits keep coming …
http://www.afr.com/business/energy/gas/new-threat-to-lng-exports-as-japan-examines-contract-restrictions-20160714-gq696x
:Contractual clauses that prevent the re-sale of LNG cargoes to other countries were already made illegal in Europe last decade. Outlawing them in Asia, the biggest market for the fuel, would seriously undermine the whole market and harm producers, exporters say.
The move would not only harm the prospects of proposed new projects but also hit existing ventures by forcing them to compete against their customers for sales, said Deloitte’s national director for oil and gas Geoffrey Cann. It would also destabilise the whole pricing structure for LNG in Asia by destroying the cast-iron linkage between LNG and crude oil prices.
“We describe it as the nuclear option, because if you go that route it is truly nuclear, it has the effect of seriously disrupting long-standing contracting practices,” Mr Cann said. “This is a big deal.”
http://www.dawsoncreekmirror.ca/regional-news/lng/natural-gas-liquids-the-one-thing-we-have-to-hold-hope-to-after-lng-delays-dawson-creek-mayor-1.2302742
China’s economy likely lost more momentum amid mounting debt
Published: July 13, 2016 5:01 p.m. ET
http://www.marketwatch.com/story/chinas-economy-likely-lost-more-momentum-amid-mounting-debt-2016-07-13?link=sfmw_tw
One by one all BC’s export markets dry up…Egypt-over…Israel-over…Ivory coast-over…Argentina, done…Japan…over…Sputh Korea-done…India have signed longterm LNG buying contracts for $5 per MM BTUs
As for China…economy has slowed…
No big energy company can justify spending big bucks to enter this low priced saturated market…
Cheers
Needing, or wanting something doesn’t change the dynamics of the economics…
Did big oil not just bail on Alberta oil-patch workers…These big energy companies don’t give a rat’s arse about you fine folk in Kitimat or Prince Rupert…Bottom line is profit…no profit to be had, no expenditures…as for site prep…big energy can write-off a little site prep…
Why do you feel the need to post these links?? Do you not care about other communities, or is it just your beef with the Liberal government ?
Stop already, there are lots of people who care what is being done or not being done. Grant G has every right to post on here.
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Agreed. Grant_G is welcome to post his thoughts here.
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I don’t dispute that. My emotions when it comes to my community gets the better of me.
I can understand that completely. I also care a lot for Prince Rupert. I support your right to counter Grant_G’s claims.
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More bad LNG news…Fortis just lost it’s one and only longterm buyer…
https://www.biv.com/article/2016/7/fortisbc-lose-lng-contract-hawaii/
'"FortisBC is losing a long-term contract with a Hawaiian power utility, which would have financed a plant expansion worth hundreds of millions of dollars, thanks to regulators on the island rejecting a proposed merger between the buyer and a Florida energy company.
In May, FortisBC announced it had signed a 20-year contract with a Hawaiian power utility, Hawaiian Electric, to supply 800,000 metric tonnes of liquefied natural gas annually to Hawaii from its LNG plant on Tilbury Island."
'Using natural gas was part of Hawaii Electric’s plan to phase out oil-burning power plants, replacing them with gas power and renewables.
But that plan was not aggressive enough on the renewables side, as far as Hawaiian regulators were concerned.
Hawaiian Electric had plans to merge with Florida’s NextEra Energy Inc. But on Friday, July 15, Hawaii’s Public Utilities Commission voted against the merger. In rejecting the deal, the utilities commission said it did not think the new company was aggressive enough in its commitment to renewable power.
“Moving forward with that (LNG contract) was dependent on the merger of the two companies,” Stout said.
“So, in fact, Hawaii Electric has withdrawn their application to the commission for their power plan and LNG."
And so how does the BC Liberal Guv respond?..by flushing another $120 million down the toilet…
http://vancouversun.com/business/energy/province-approves-120-million-in-tax-breaks-to-natural-gas-drillers
MSP premiums bring in over $2 billion to the province…sales tax $6 to $7 billion…BCLC…$1 billion…
liquor taxes…$1.2 billion…
How much does BC.s oil and gas industry contribute…$120 million last years and a little less next year…
British Columbia is chasing a ghost…LNG is done…Hawaii is not interested in LNG as a bridge fuel…solar/wind/tidal…That is Hawaii’s energy future…
Hawaiian Electric withdraws request for approval of LNG contract
FortisBC’s Tilbury Island LNG plant originally was used to provide LNG as a backup for FortisBC’s natural gas supply. After striking deals to supply LNG for a variety of domestic purposes, including ships and trucking fleets, FortisBC commissioned a $400 million expansion of the Tilbury Island plant. The expansion is to be completed this fall.
Floating LNG terminals…That will be LNG’s future…Floating facilities…so much for domestic jobs…
LNG terminal to go into production in 2018
"Petrobangla and US-based Excelerate Energy yesterday signed the final deals to set up Bangladesh’s first LNG terminal, which will handle imported liquefied natural gas and supply those to the national grid from early 2018.
“This marks the end of paperwork. We expect to start supplying gas by the end of 2017,” said Tawfiq-e-Elahi Chowdhury, energy adviser to the prime minister, after two separate agreements were signed to set up the LNG terminal at Moheshkhali in the Bay of Bengal.
Known as Moheshkhali Floating LNG Terminal, the scheme was taken in 2010. The terminal is now one of the fast-track projects that the government took to strengthen infrastructure.
“This is a very critical project for us. A lot of people are waiting for gas to run their factories,” Chowdhury said.
The LNG terminal, also called floating storage and re-gasification unit, will have the capacity to supply 500 million cubic feet (MMCF) of gas per day.
Petrobangla will have to spend $1.56 billion a year to import the LNG from Qatar. In March this year, Petrobangla and Excelerate inked an initial agreement to set up the terminal. The unit will supply gas to Chittagong region that has been suffering from an acute gas crisis for a long time. Bangladesh now produces 2,700 MMCF of gas a day against the demand for 3,300 MMCF."
BC Liberals are desperate…even the Fortis/Hawaii deal went sour…LNG is yesterday’s fuel…
Cheers
http://www.theprovince.com/business/energy/collapse+hawaiian+utility+merger+setback+exports/12069527/story.html
http://www.cbc.ca/news/canada/british-columbia/global-lng-market-poor-for-bc-says-global-sustainability-research-1.3681865
"A downturn in the global energy market makes Canadian-produced LNG unprofitable in Asian markets while Hughes says there are further issues compounding Canada’s sale of LNG to China as that country is investing in its own energy sources.
That includes alternative energy such as solar and wind, but also coal.
Russia and Australia: closer to China
“Roughly 70 per cent of their electricity is generated by coal and they’re building new state-of-the-art coal plants,” said Hughes adding that Canada’s sale of LNG to China also has some competition.
“They’ve also made a deal with Russia, basically pipeline gas from Russia at fairly low cost.”
Hughes says Russia and Australia both have an advantage in selling to Asia due to proximity."
These views are not mine, experts around the world are saying B.C. LNG is near toast!..and…
I agree completely…Oil n gas industry in B.C. has turned into a money drain, flushed down the toilet…It would be cheaper just to send $500 million per year to Dawson Creek/Fort Nelson …Those idled workers can plant trees and restore the land base…
What is IRL?..Is it this
http://www.inreallife.club/
Not sure what you mean, don’t use IRL, whatever it is…As for being a dyck, …seems you local Prince Rupertonians are the ones acting dick-like…Everything I post is LNG related…You and Gracie and a few others merely attack the messenger, you post nothing on-topic…perhaps you need to look in the mirror…as for negativity…here is a little Straight Goods and Grant G…Hope you enjoy the reads…
Touched By Angels, 6 Days At Burnaby General Hospital
http://powellriverpersuader.blogspot.ca/2014/12/touched-by-angels-6-days-at-burnaby.html
577,The Unluckiest Number,Ten years out. The Enbridge pipeline disaster
http://powellriverpersuader.blogspot.ca/2010/04/577the-unluckiest-numberten-years-out.html
A Farewell to friends/Wish you were here
http://powellriverpersuader.blogspot.ca/2009/09/farewell-to-friendswish-you-were-here.html
The Storm of Tears, (In Your Eyes)
http://powellriverpersuader.blogspot.ca/2010/08/storm-of-tears-in-your-eyes.html
LNG is a dead planet future…we can do better…
Good Day …
http://www.alaskahighwaynews.ca/with-lng-projects-stalled-northeast-leaders-look-for-plan-b-1.2306430
plan B…bigger BC Liberal lies come election 2017
I can understand you wanting to defend yourself against a personal attack.
Okay. Let us all stay on topic folks and discuss LNG issues.