Premier Christy Clark

Premier Christy Clark

Big LNG investors endorse B.C. plan

Shell, PetroChina, Korea Gas and Mitsubishi still up to two years from final commitment to Kitimat-based project

The biggest players in B.C.’s liquefied natural gas export proposal are still more than a year away from final commitment, but their latest step forward is a vote of confidence, according to the CEO of LNG Canada.

Representatives of Shell Canada, Korea Gas, Mitsubishi and PetroChina announced signing of a joint venture agreement for the LNG Canada project in Vancouver Wednesday, with Premier Christy Clark and Natural Gas Minister Rich Coleman on hand.

LNG Canada CEO Andy Calitz cautioned that a final investment decision depends on completion of reviews by B.C.’s Environmental Assessment Office and Oil and Gas Commission. The companies will now begin engineering work, and those steps will take another 18 to 24 months, Calitz said.

The partnership includes an increase in Shell’s stake to 50%, with PetroChina retaining 20% and Mitsubishi and Korea Gas reducing their shares from 20% to 15. Calitz said the companies have other projects in development in Africa, Australia, Russia and elsewhere, and the change does not reflect any loss of confidence in B.C.

Calitz acknowledged the B.C. government’s commitment to increase industrial skills training in the school and apprenticeship system, announced Tuesday.

Clark also announced she is leaving Friday for her fifth trade mission to Asia, with stops in Malaysia, Singapore and Hong Kong, mainly to promote LNG development.

Calitz said there are international factors affecting the export price, but LNG Canada is looking beyond Asia to other world markets.

There are three key factors in deciding whether to commit to the Kitimat project, Calitz said. They are shifts in the gas price in Asia, the supply and cost of labour to build the plant and pipelines, and construction of gas pipelines through the Rocky Mountains.

The companies have an agreement with TransCanada to build a pipeline, and gas production underway in the Horn River, Montney, Cordova and Liard shale formations in northeastern B.C.

 

Just Posted

Kenny Podmore, here seen at Sidney’s cenotaph in November, says he feels for the veterans after organizers had to cancel an event acknowledging Victory in Europe (VE) Day for the second time in as many years because of COVID-19. (Wolf Depner/News Staff)
North Saanich event marking 75th anniversary of VE-Day cancelled

Sidney resident first planned event for May 9, 2020 moved to May 8 before being cancelled

Individuals and businesses are encouraged to bring their unwanted electronics to Tillicum Centre May 14 to be shredded, recycled or donated. (Black Press Media file photo)
Greater Victoria residents can shred, donate electronics safely

Vancouver Island Better Business Bureau hosts event May 14 at Tillicum Centre

Scheduling popular summer events like the Canada Day celebrations is difficult due to the pandemic. (File - Sooke News Mirror)
Sooke summer events schedule clouded by COVID

Public health guidelines hamper plans

The District of Sooke is looking at new plans to build a fenced dog park at Ponds Park Corridor. (Pixabay.com)
Sooke seeks input on dog park

Public comment welcomed until June 4

Potatoes have two genetic centre of origins, one from the lowlands in Chile and the other from the highlands in Bolivia. The highlands potatoes flower and produce fruit profusely, which is where the seeds come from. They contribute to exciting and ecologically imporant genetic diversity of potatoes. (Submitted/Fiona Hamersley Chambers)
Metchosin farmer shares how to invent a new potato

Using seeds anyone can name their own variety

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

Chilliwack’s Kile Brown, performing as drag queen Hailey Adler, dances and lip syncs in front of hundreds of people during the inaugural Chilliwack Pride Barbecue at the Neighbourhood Learning Centre on Aug. 24, 2019. Monday, May 17 is International Day Against Homophobia, Transphobia and Biphobia. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of May 16 to 22

International Day Against Homophobia, Talk Like Yoda Day, Sea Monkey Day all coming up this week

Sinikka Gay Elliott was reported missing on Salt Spring Island on Wednesday, May 12. (Courtesty Salt Spring RCMP)
MISSING: Salt Spring RCMP find woman’s car, still seek Island resident

Sinikka Gay Elliott is 5’3” with a slim build and dark brown short hair

Tagen Marshall of Parksville is looking to raise funds for a new specialized van. (Submitted photo)
Wolf: Parksville’s Tagen Marshall inspires others, aims to invest in himself

VIU honour student with spastic quadriplegia cerebral palsy seeks help achieving big dreams

A Saanich man received almost 10 years in Supreme Court in Courtenay for a shooting incident from 2018. Record file photo
Shooting incident on Island nets almost 10-year sentence

Saanich man was arrested without incident north of Courtenay in 2018

Bradley Priestap in an undated photo provided to the media some time in 2012 by the London Police Service.
Serial sex-offender acquitted of duct tape possession in B.C. provincial court

Ontario sex offender on long-term supervision order was found with one of many ‘rape kit’ items

Rich Coleman, who was responsible for the gaming file off and on from 2001 to 2013, was recalled after his initial testimony to the Cullen Commission last month. (Screenshot)
Coleman questioned over $460K transaction at River Rock during B.C. casinos inquiry

The longtime former Langley MLA was asked about 2011 interview on BC Almanac program

Steven Shearer, <em>Untitled. </em>(Dennis Ha/Courtesy of Steven Shearer)
Vancouver photographer’s billboards taken down after complaints about being ‘disturbing’

‘Context is everything’ when it comes to understanding these images, says visual art professor Catherine Heard

Most Read