‘A positive signal to the natural gas producers specifically,’ says Canadian Energy Research Institute executive
CALGARY — After years of delays and project cancellations, the natural gas industry can finally cheer for a newly expanded LNG export project on the West Coast.
Cancelled LNG projects on British Columbia’s coastline include the $36-billion Pacific NorthWest LNG project by Petronas Bhd, Nexen’s $28-billion Aurora LNG project, Exxon Mobil Corp.’s $25-billion West Coast Canada LNG project and some smaller projects proposed by AltaGas Ltd. Many of those balance sheets are in better shape now, the LNG market is showing more supply is needed and the application from Chevron this week shows “a little bit of momentum” in the Canadian market, Gingrich said.
LNG export facilities link Canadian gas supplies with Asian utility customers, which pay higher prices for natural gas. A Twitter posting from the First Nations LNG Alliance, a support group for LNG and associated indigenous business, showed that Chevron Canada vice-president Rod Maier said his company had committed to using electric power rather than energy from combusting natural gas for the Kitimat LNG project during a conference in B.C.The company has not indicated when it could reach a final investment decision on the project but the smaller Woodfibre Ltd.
“Our decision to select electric drives to minimize air pollution and greenhouse gas emissions will make Woodfibre LNG one of the cleanest LNG facilities in the world,” she said.
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