CALGARY — As many international companies pull out of British Columbia’s nascent LNG industry, a domestic pipeline company is considering jumping into the sector.
“These are mid- to end-of-decade projects that we’re looking at and we’re laying the groundwork now because it just takes that long,” he said. Last year, Chevron Corp. and Australia’s Woodside Petroleum Ltd. both announced they were looking to sell down their interests in the Kitimat LNG project. San Ramon, California-based Chevron took a writedown on the project and announced it was refocusing its spending away from Canadian holdings.
Other producers are also looking to enter the LNG market. As many as 10 domestic natural gas producers headquartered in Calgary have formed a consortium called Rockies LNG Partners in an attempt to drive their own project toward an FID in the next few years. Pembina has also been advancing a liquefied natural gas export project on the Oregon coast called Jordan Cove LNG but that project has now been delayed twice after unfavourable decisions from the U.S. Federal Energy Regulatory Commission. Last week, the FERC voted 2-1 to delay a decision on Jordan Cove LNG.
Risk of U.S. LNG being shut-in is rising,” with LNG cargos from the U.S. to Europe in July 2020 now losing around 20 cents per mmbtu JustinTrudeau Carolyn_Bennett scottfraserndp UN UN_Women TheEconomist guardian Puglaas Bill_Morneau cafreeland
Let them invest then, because no one else sees opportunity in being fossil fuel ghoul
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