• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 4 hours Oil prices going Up? NO!
  • 1 day Could Venezuela become a net oil importer?
  • 8 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 4 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 2 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 5 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 day Gazprom Exports to EU Hit Record
  • 2 hours Oil prices going down
  • 1 day EU Leaders Set To Prolong Russia Sanctions Again
  • 1 day Why is permian oil "locked in" when refineries abound?
  • 1 day Oil Buyers Club
  • 2 days Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 3 hours Saudi Arabia turns to solar
  • 1 day EVs Could Help Coal Demand
  • 2 days China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 20 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
Alt Text

No.1 Copper Mining Nation Still Churning Out A Profit

Chile, the world’s leading copper…

Alt Text

The Next Big Thing In Enhanced Oil Recovery

Savvy energy investors are constantly…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

The World's Biggest Energy Project Moves Forward

I wrote last week about U.S. liquefied natural gas (LNG) projects. And how falling gas prices in markets like Asia may make them more difficult to develop.

Another headwind to Gulf Coast exports is global competition. Especially from the Pacific coast of Canada.

News last week ramped up that competition a little more. With one high-profile developer in the latter region taking "a great step forward" in realizing exports from the burgeoning Canadian sector.

That's Royal Dutch Shell. Leader of the "LNG Canada" consortium that's seeking to develop an LNG export project at Kitimat, British Columbia. In concert with heavyweight partners PetroChina, Korea Gas, and Mitsubishi.

The consortium announced that it has selected a contractor for construction of the proposed $10 billion liquefaction terminal here. With a group led by Japan's Chiyoda Corp--and also including Foster Wheeler, Saipem, and WorleyParsons--getting the nod.

The news is a bit of a surprise. Given that the LNG Canada project hasn't yet had final investment approval from its developers. Like almost all of the proposed LNG projects in British Columbia, the backers have been waiting for more specifics on the provincial tax regime here. With such details being expected from the government this fall.

But the contractor award shows that the LNG Canada project is moving forward nonetheless. Signalling that Shell and its partners are serious about realizing Pacific exports.

The enthusiasm is warranted. LNG exports from western Canada are projected to be cheaper than U.S. Gulf Coast shipments by a few dollars per mmbtu of gas. And those savings could give projects here a leg up in the race to sell cheap North American gas into Asian markets.

Such cost benefits are a big part of the reason why total investment slated for British Columbia LNG is shaping up in the hundreds of billions of dollars. Potentially making this the biggest centre for energy development on the planet.

We'll see if projects like LNG Canada's do indeed get the green light over the coming months.

Here's to the left coast,

By Dave Forest




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News