VANCOUVER - Malaysian national energy company Petronas announced Tuesday it was walking away from the Pacific NorthWest LNG project, a massive liquefied natural gas development that was to be built in British Columbia. While the project received federal government approval, it also faced opposition from some First Nations and an environmental group that sought to squash the go-ahead in the courts. Here is what some people had to say about it: ——— "NDP comes to office in [Read more]
The evaporation of an LNG project: A chronology of Pacific NorthWest LNG
VANCOUVER - Here is a look at how the Pacific NorthWest LNG project evolved over the last several years before the announcement of its demise Tuesday: Feb. 19, 2013: Pacific NorthWest LNG submits its project description to the Canadian Environmental Assessment Agency. April 29, 2013: Japan Petroleum Exploration Co. Ltd. buys a 10 per cent stake in Pacific NorthWest LNG and agrees to buy 10 per cent of the liquefied natural gas produced over at least 20 years, becoming the first [Read more]
Petronas-backed Pacific Northwest LNG megaproject not going ahead
Malaysian national energy giant Petronas and its partners scrapped the Pacific NorthWest LNG megaproject Tuesday, ending months of anticipation on the fate of what would have been one of Canada's largest private infrastructure investments. The decision to cancel the development boiled down to simple economics — a world market awash in liquefied natural gas, which has driven down prices, making Pacific NorthWest LNG no longer financially viable, said Anuar Taib, CEO of Petronas's oil and [Read more]
Pipeline project, wildfires top agenda for first meeting between Trudeau, Horgan
OTTAWA - Prime Minister Justin Trudeau and brand new B.C. Premier John Horgan bent over backwards to appear congenial after their first meeting Tuesday, avoiding any mention of their differing positions on expanding Kinder Morgan's TransMountain pipeline. The two leaders even showed up to their first face-to-face meeting in nearly identical blue suits, right down to their striped socks and matching shoes, prompting Trudeau to joke about their clear "compatibility." "We're both [Read more]
First Nations lawsuit blames government inaction for Husky oil spill
A First Nations lawsuit alleges that government inaction is at least partly to blame for a Husky Energy oil spill that fouled water supplies for tens of thousands of people along the North Saskatchewan River last summer. A statement of claim filed Thursday by the James Smith band in Melfort, Sask., against the provincial and federal governments says Saskatchewan ignored pipeline safety recommendations from its own auditor general made four years before the accident. "The report [Read more]
Husky Energy set to repair pipeline that spilled crude into river a year ago
CALGARY - Husky Energy (TSX:HSE) says it has been granted permission to repair and replace a section of pipeline that leaked 225,000 litres of crude in Saskatchewan just over a year ago. Chief executive Robert Peabody said that it will be applying lessons learned from the spill on the rebuild. "My mother used to tell me this, learn from your mistakes and don't do it again," Peabody told a conference call Friday to discuss Husky's latest financial results. With the [Read more]
Encana reports US$331M profit on earlier than expected ‘production bounce’
CALGARY - Higher production of more profitable products in the second quarter allowed oil and gas producer Encana Corp. (TSX:ECA) to handily beat analyst expectations while posting a US$331-million net profit. "Our core assets have returned to growth, delivering our planned mid-year production bounce ahead of schedule," said CEO Doug Suttles on a conference call Friday. "We continue to enhance well productivity across the portfolio and, as a result, we now expect the core assets [Read more]
NEB to reconsider B.C. natural gas pipeline jurisdiction: judge rules
VANCOUVER - The National Energy Board must reconsider whether a proposed natural gas pipeline critical to the development of the Pacific NorthWest liquefied natural gas project falls within provincial or federal jurisdiction, the Federal Court of Appeal has ruled. The judgment marks a setback for the $36-billion LNG development, which secured conditional approval from the federal government last year. "The board did not ask itself whether an arguable case for federal jurisdiction [Read more]
Canadian energy company named in California climate-related lawsuit
A Canadian energy company is named in three large lawsuits that attempt to link damages from climate change to industry's alleged attempts to hinder action to address it. In the latest of a growing number of such lawsuits around the world, Calgary-based Encana is one of 20 energy majors and their subsidiaries facing claims from three California communities. They allege the companies have deliberately sown misinformation and doubt on climate change and are at least partially responsible [Read more]
Kinder Morgan Canada says Trans Mountain on track for Sept. construction start
CALGARY - The Trans Mountain pipeline expansion remains on track to begin construction in September, Kinder Morgan Canada president Ian Anderson said Wednesday in the face of environmental and political opposition that threatens to derail the project. Anderson, speaking on Kinder Morgan Canada's first quarterly earnings call since it went public in May, said he looks forward to working with the new NDP government of British Columbia Premier John Horgan, who was sworn in a day earlier. [Read more]
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