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

The orange parcel was bought by the CRD for $1.1 million to add to Mount Work Regional Park. (CRD map)
Capital Regional District expands Mount Work land for $1.1 million

Privately-owned 13.8 hectares in the Highlands is ecologcically valuable

North Saanich has received a report from the Urban Development Institute calling on the municipality to expand and densify its housing options in the face of demographic and environmental changes as the municipality continues its Official Community Plan review. (Black Press Media file photo)
North Saanich asked to create more affordable, diverse housing

Urban Development Institute says community faces demographic, environmental challenges

Royal Bay Secondary School’s rainbow crosswalk was vandalized shortly after being painted but by Monday, coincidentally the International Day Against Homophobia, Transphobia and Biphobia, the crosswalk had been cleaned up and students had surrounded it with chalk messages of support and celebration. (Zoe Ducklow/News Staff)
Royal Bay pride crosswalk restored following graffiti attack

Hate terms, racial slur, phallic images spray-painted at Colwood high school

One woman has been arrested in connection with a drug trafficking investigation. (Black Press Media file photo)
Victoria woman arrested, car and drugs seized during trafficking investigation

Multiple units combine forces for investigation, arrest

Victoria police retrieved a number of stolen items May 15 after arresting a man and woman squatting in an empty building. (Courtesy of VicPD)
Victoria police look to return stolen items following arrest of squatters

Golf clubs, power tools, jackets, cell phones and a MacBook Pro were retrieved

An avalanche near Highway 1 in Glacier National Park. Avalanche Canada will benefit from a $10 million grant from the B.C. government. (Photo by Parks Canada)
Avalanche Canada receives $10-million grant from B.C. government

Long sought-after funds to bolster organization’s important work

More “strings of lights” were seen on May 15, 2021, in night sky over Vancouver Island. (File photo)
Sicamous RCMP Sgt. Murray McNeil and Cpl. Wade Fisher present seven-year-old Cody Krabbendam of Ranchero with an award for bravery on July 22, 2020. (Contributed)
7-year old Shuswap boy receives medal of bravery for rescuing child at beach

Last summer Cody Krabbendam jumped into the lake to save another boy from drowning

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry update the province’s COVID-19 vaccine program, May 10, 2021. (B.C. government)
B.C.’s COVID-19 infection rate stays below 500 a day over weekend

14 more deaths, down to 350 in hospital as of Monday

Royal Bay Secondary School’s rainbow crosswalk was vandalized shortly after being painted but by Monday, coincidentally the International Day Against Homophobia, Transphobia and Biphobia, the crosswalk had been cleaned up and students had surrounded it with chalk messages of support and celebration. (Zoe Ducklow/News Staff)
B.C. high’s school’s pride crosswalk restored following ‘hateful’ graffiti attack

Hate terms, racial slur, phallic images spray-painted at Greater Victoria high school

Terrance Mack would have celebrated his 34th birthday on May 13, 2021. Mack’s family has identified him as the victim of a homicide in an apartment on Third Avenue in Port Alberni sometime in April. (SUBMITTED PHOTO)
Family identifies Ucluelet man as victim of Vancouver Island homicide

Terrance Mack being remembered as ‘kind, gentle’ man

Nathan Zuk had left his mother’s residence in Whaletown on Cortes Island in mid-December 2020 in a 14’ skiff rowboat and headed to an unknown location near the Pryce Channel, Deer passage, or Toba Inlet. Photo courtesy RCMP
RCMP need help finding man who set off from Cortes Island in 14-foot rowboat

Nathan Zuk left in December, may have been last seen in Toba Inlet approximately three weeks ago

Emergency service workers at the collision scene along Highway 4 in Hilliers on Sunday, May 16. A motorcyclist was airlifted to hospital by BC Air Ambulance and later died. (Collin C photo)
UPDATE: Motorcyclist dies from injuries sustained in Mid-Island highway collision

BC Highway Patrol says impairment not a contributing factor in crash

An avalanche near Highway 1 in Glacier National Park. Avalanche Canada will benefit from a $10 million grant from the B.C. government. (Photo by Parks Canada)
Avalanche Canada receives $10-million grant from B.C. government

Long sought-after funds to bolster organization’s important work

Most Read