Royal Dutch Shell was quoted in Reuters on Oct 2, 2018 saying it would export LNG from the west of Canada by 2025 after approving the C$40 billion LNG Canada project capable of initially producing 14 million tonnes a year…. “LNG Canada’s FID … (signals) the appetite to invest in LNG is back,” said Saul Kavonic, an energy researcher at Credit Suisse.
With prices almost tripling from 2016 lows to over $11 per mmBtu as demand gathers steam, the industry has regained confidence and is preparing to invest in new projects again. Another 175 million tonnes per year of capacity is expected to be approved by the end of 2019. “We believe 2019 could be the busiest year of LNG FIDs ever,” said Wood Mackenzie’s director of North America.
Forecasts vary, but LNG demand is expected to jump to about 360 million tonnes by 2023, the International Energy Agency has said, while consultancy Wood Mackenzie expects 450 tonnes a year. With support from First Nations, the community, all levels of government, business, labour and countless individuals and organizations, LNG Canada has been given the green light from joint venture participants to move their LNG export facility forwards into construction.
“The Final Investment Decision taken by our joint venture participants shows that British Columbia and Canada, working with First Nations and local communities, can deliver competitive energy projects. This decision showcases how industrial development can co-exist with environmental stewardship and Indigenous reconciliation,” said Andy Calitz, CEO LNG Canada.
Join us for a luncheon presentation with Steve Corbin, Executive Project Director – LNG Canada on “Building on the promise of LNG in Canada,” exploring the market trends, key drivers and building an understanding of the unique opportunity Canada has as a hub for LNG expansion.
February 14th at the Calgary Petroleum Club 11:15am – 1:00pm.
Tickets: $50.00 and $60.00
Sponsored by GuildOne Inc. and The BOE Report