Will Petronas pull the plug in March 2016? Was Grant's prediction true?

#142

White noise Gracies_mom…Shell Canada was granted a 40 year export license…Shell deferred…

Here is some Petronas news, bad news for you Prince Rupertilians…


http://www.wsj.com/articles/petronas-may-delay-canadian-lng-project-1470128896

"KUALA LUMPUR, Malaysia—Malaysia’s state oil company is considering delaying a Canadian liquefied-natural gas project over concerns about oversupply and cheap competing fuels, according to two people familiar with the matter…

In calculating the project-price estimate, Petronas said it included what it paid in 2012 for Calgary-based Progress Energy Resources Corp. which will produce the gas, as well as the cost of the proposed two liquefaction plants, marine terminal, pipeline and storage tanks.

People familiar with the matter told The Wall Street Journal that the oversupply of LNG and lower oil and gas prices have rendered the project unattractive at the moment. They declined to say how long the delay might be.

_Dutch giant Royal Dutch ShellPLC last week said it was deferring a final investment decision on an export facility in Lake Charles, Louisiana, after earlier in July doing the same for an export project in Kitimat, British Columbia. _

LNG prices have been softening since 2014 as demand has weakened, and over the next five years new supply from Australia, the U.S. and Russia is set to hit the market. Although Asian spot LNG prices climbed last week, driven by new demand from Argentina, falling crude-oil prices—down more than 20% since early June—may weigh on them going forward.

Weaker oil prices have already taken a toll on Petronas, Malaysia’s only Fortune 500 company. Its first-quarter profit after tax was down 60% from a year earlier, to 4.6 billion ringgit (US$1.13 billion) from 11.4 billion ringgit."


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#143

This is hilarious!

He did exactly that!

Which proves that he doesn’t actually read anything here. Just copies and pastes articles that he gets from Google News alerts. Doesn’t even realize the article was already linked a few posts before his.

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#144

“White Noise” Mr G ??? Actually my post is not about Petronas nor the facility in Kitimat. Its about the facility planned for Tuck Inlet.

Oh and you should have scrolled upward more as your #1 fan already beat you to the link.

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#145

Well, Tuck inlet is a longshot too…

Petronas and their partners have come to the conclusion that PNW LNG is economical, not attractive.

There is simply too much LNG in the market, the glut is forecast to last near a decade…too many energy companies jumped on the LNG bandwagon,…

Petronas’s equity partners can buy longterm LNG for half the B.C. minimum price…

Cheers

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#146

Well you can continue to copy and paste all those little links. Not going to bother responding to your posts anymore. You have no interest in the Northwest or the people who live here. Caio

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#147

Petronas is cancelling oh no the water is red the locusts are coming, lets get real, look up wayyyyyyyyyyyyy up and you will see why Petronas might delay their decision, and it is not what Grant of Stglider says why, it is because, don’t know how many times I wrote this, but try to read it this time, it is because the CEAA has stated as one of it’s conditions for the federal government to give it’s approval is, ok you 2 read this now, they have to clear the land on LElu island only between september and october, too late for that this year. even if they got the approval this month, it will take at least a few months to kick those nuts off of Lelu island, so look at September 2017 for construction start.

as for Shell and it’s export license I do believe there is a time limit for when it has to start construction or lose it’s export license, that will go into it’s decision as well

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#148

I got bad news for you:

Hello, will you please tell us why you think Mr. Kristoff is a racist?

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#149

He’s never answered that now has he. He picks and chooses who he responds to.

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#150

https://www.biv.com/article/2016/8/bc-has-no-plan-b-lng/

“All major service suppliers and oil field service companies have closed the doors and left town,” Streeper said. “Right now, industrial property in Fort Nelson has approximately a 60% vacancy rate. We have seen massive layoffs from these firms.”

Some industry experts say the long-term prospects for LNG are still sound, but predict that some projects now on the drawing board will go on the back burner until a global LNG glut eases.

“It will go ahead, but it will be stalled,” Haisla First Nation Chief Ellis Ross said of the LNG Canada project in Kitimat. “The market’s got to recover. There’s a flood of natural gas out there right now.”


Time for plan B

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#151

Oh you don’t worry. As long as nobody else reply to his copy and pasty comments, I will continue to annoy him with the same question everytime he posts stuff from Google and etc. :smiling_imp:

[quote=“Grant_G, post:150, topic:17081”]
Time for plan B[/quote]

I’m afraid you need plan B to avoid answering my question, for which you can’t escape.

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#152

Wishing Grant_G’s mother used ‘plan b’…

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#153

Hahahahahahaha, FTW!

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#154

http://www.thenorthernview.com/news/389233551.html

"PETRONAS, the primary shareholder and leader of the consortium Pacific NorthWest LNG project on Lelu Island, is preparing for a “total review” once it receives a finalized report from the Canadian Environmental Assessment Agency (CEAA) on the project’s environmental impacts.

A statement made by the company and distributed by a Pacific NorthWest LNG (PNW) spokesperson on Thursday reads that the Malaysian-based stakeholder will not immediately send the project to its investment partners once receiving CEAA’s review.

“PETRONAS is still waiting for the finalization of the Canadian Environmental Assessment Agency’s extended review of the environmental report for its proposed Pacific NorthWest LNG project. Upon finalization of the report, we need to conduct a total review of the proposed project prior to tabling it to the project’s partners for Final Investment Decision (FID),” the statement reads."


That’s all you people have is insults…you are all off topic, …

And this is for PLA…

http://podcast.cbc.ca/mp3/podcasts/bcalmanac_20150511_18733.mp3


Petronas is saying,…regardless of what decision the CEAA makes…This project needs another economic look…Equity partners are backing away…

As for removing trees as a reason for the delay…oh Gracies’_mom…you are grasping at straw…

Like I said…I wrote in August 2015 that Petronas was not going forward…Petronas is merely making white noise, maybe Petronas is waiting for Rich Coleman to offer free gas to liquefy for export…

Even Enbridge’s northern gateway pipeline…That project is long since dead…yet Enbridge is still musing and pretending the project has a chance, it doesn’t…

No difference with Petronas,

Good Day

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#155

Hey I never said anything about tree’s. So look before you post. Remember it ain’t over til the word CANCELLED is said. You keep copying and pasting all you want.

CAIO

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#156

Hello! In your own words, how’s he racist?

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#157

http://theprovince.com/news/bc-politics/michael-smyth-forget-lng-bonanza-clark-changes-hype-to-foreign-buyers-tax

It was around four years ago that Clark’s governing Liberals started cranking up the LNG hype.

Remember all those incredible promises? Five massive LNG plants (maybe more), 100,000 jobs and billions of dollars in new government revenue — enough to wipe out the debt and maybe even eliminate the provincial sales tax.

A particularly exuberant declaration came from former TV news anchor Pamela Martin, the Liberals’ outreach director: “What would you do with a trillion dollars?” she tweeted.

“A once-in-a-generation bonanza announced in B.C.”!

You may have noticed the bonanza is a little late in arriving and the streets aren’t paved with gold yet.

That’s because not a single LNG project has gone ahead. And now there are signs the most promising proposal of all — the $36-billion Pacific NorthWest LNG project near Prince Rupert — could be shelved.

Last week, the Wall Street Journal reported the project — backed by state-owned oil-and-gas giant Petronas of Malaysia — could be delayed.

It comes just as the federal government is set to issue a decision on whether to approve the project with a long list of costly environmental-protection conditions attached.

But, even if the project receives federal approval, it still faces roadblocks.

“Upon finalization of the (federal) report, we need to conduct a total review of the proposed project,” Petronas said in a statement.

“Petronas reiterates that a project of this magnitude requires coherent support from the various relevant stakeholders,” the statement added, suggesting frustration with expensive government red tape and taxes and unsteady support from First Nations.

But analysts say the real problem is elsewhere: deflated LNG prices, global oversupply and slumping demand in Asia.

“We have a glut of LNG on the market and we see very low prices,” said Jackie Forrest, vice-president of energy research with Calgary’s Arc Financial Corp.

“These type of prices just won’t pay for a $30-billion facility and it’s going to take a while to clear.”

All of which has Green Party leader Andrew Weaver in I-told-you-so mode.

“It’s shocking how irresponsible the government was in promising all this,” said Weaver, who just returned from visits to Kitimat, Terrace and Prince Rupert, where LNG fever really took hold.

“We stayed in a brand-new hotel with four cars in the parking lot,” he said.

“Investors poured tonnes of money into these towns on the expectation of LNG. But they were hoodwinked.”

The government, of course, doesn’t see it that way and remains optimistic that an LNG industry will still emerge one day.

“We’re focused on building a viable, competitive industry,” the government said in a statement.

But Premier Christy Clark’s focus is now somewhere else. Take a look at the Liberal Party website and there’s nothing on the home page about LNG anymore.


Not even a mention of LNG on the BC Liberal website…

But what did you people in Prince Rupert say…What did Brad Zubyk say(herman)…what did Tom Cassada (@lotuslander2000) …Petronas is different, they look at the longterm…Petronas needs the gas, their equity partners are off-takers of the gas…

Hmmm…if Petronas looks at the longterm…if Petronas has equity partner gas off-takers than why has this project been deferred?

Real simple concept…LNG glut for the next decade, prices in the tank…transit cost expensive, back n forth across the Pacific for each delivery and gas supplies hundreds of miles from the coast…

Day by day, bit by bit the mainstream media catches up to Grant G and The Straight Goods.

Have a good day you Prince Rupertilians…

Cheers Eyes Wide OPen

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#158

“Tonight on the News Hour, we will go deep in to the issue and ask why Grant G accused Murray Kristoff of being a racist. We will catch up with him later.”

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#159

No word of LNG on their website you say??

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#160

let’s see why it has been deferred, hmmmmmmmmm oh wait maybe because it hasn’t yet received Federal approval yet, and 2 it has to see exactly what conditions the CEAA puts on it. Oh and on a side note Lax members that attended the Prince Rupert meeting were overwhelming supportive of the project, only a few dissenters.

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#161

sorry about that

I am just curious. Where do people stand on this topic?

We know by his many links that Grant does not see Petronas going forward in the foreseeable future and seems to take quite the delight in pointing all of this out. And we know that Jabber63 still holds faith that something is gonna happen sometime soon.

Now I am not interested how you feel about the LNG industry or how you feel about the Lelu Island location or Petronas or anything of that nature. I just want to know whether or not you think Petronas will be building an LNG terminal on Lelu Island by let’s say the end of 2018.

To be clear this is not a question of what you want to happen or what you hope will happen. Just a question of what you think will happen. And you don’t have to justify your response with anything other than my gut tells me.

I will start. I don’t see anything happening.

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