• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 8 mins Would bashing China solve all the problems of the United States
  • 7 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 2 hours Model 3 cheaper to buy than BMW 3 series.
  • 1 hour Thugs in Trumpistan
  • 1 min Pompeo's Hong Kong
  • 12 mins China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 1 day China to Impose Dictatorship on Hong Kong
  • 21 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 4 mins China’s Oil Thirst Draws an Armada of Tankers
  • 10 hours Income report showing potential future spending and economic growth
  • 3 hours Coronavirus hype biggest political hoax in history
  • 11 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 12 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 2 days 60 mph electric mopeds
U.S. Shale Is Living Beyond Its Means

U.S. Shale Is Living Beyond Its Means

CEOs of some of America’s…

Oil And Gas Rig Count Falls For Ninth Straight Week

Oil And Gas Rig Count Falls For Ninth Straight Week

Baker Hughes reported on Friday…

Canadian LNG Projects Delayed Amid COVID-19 Crisis

 

Woodfibre LNG, a small-scale project in British Columbia, will be delayed by a year amid the Covid-19 crisis, which has prompted the shutdown of a contractor that Woodfibre LNG worked with for the supply of components, CBC News reports, citing a company spokeswoman.

 

The shutdown of the component supplier—a Chinese company—was aggravated by the fact that Woodfibre LNG's preferred contractor for the construction of the underwater part of the project had filed for Chapter 11 bankruptcy protection.

 

As a result of this unfortunate combination of events, Woodfibre LNG will file for a five-year extension to its environmental certificate, which, CBC reports, will expire this October.

 

While Wooddibre LNG is a small project, with an annual export capacity of 2.1 million tons of liquefied gas, a much bigger project, Canada LNG, has also run into difficulties. The company said earlier this month it had laid off 750 workers to prevent the spread of the coronavirus.

 

The facility, which is on track to become operational before 2025, will initially have two liquefaction "trains", each with a capacity of 6.5 million tons of LNG. The project could also add another two trains at a later stage, bringing the total capacity of the facility in Kitimat, in northern British Columbia, to as much as 26 million tons annually. Construction of the LNG Canada trains has not stopped.

 

The outlook for the LNG industry has been gloomy for the short term but somewhat optimistic for the medium to long term. This week the short-term outlook grew gloomier after India, one of the world's top importers of LNG, imposed a national lockdown on its population of 1.3 billion to stem the spread of Covid-19. As a result, all nonessential businesses are closing, and the demand for LNG has fallen off a cliff. Yesterday, Indian LNG importers declared a force majeure on deliveries, according to industry sources who spoke to Reuters.

 

By Irina Slav for Oilprice.com

 

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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