November 17 2016 0Comment

Canada Sees Petronas’ $27 Billion LNG Decision by April

here Petroliam Nasional Bhd. will be ready to decide whether to proceed with a proposed $27 billion liquefied natural gas plant on Canada’s Pacific Coast by April, according to Rich Coleman, British Columbia’s minister of natural gas development.

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Cheap Xanax From Overseas The state-owned Malaysian energy company, which won conditional Canadian government approval in September after more than three years of regulatory review, is in the process of reassessing the project’s costs, including those of steel, pipes and other inputs, he said.

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go site “They need to go out and re-price the project,” Coleman said in an interview in Vancouver. “They hope to have that done in three to six months. Once they’ve done that, they’ll go back to the partners and decide whether to make a final investment decision.”

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go site Canada relies on the U.S. to buy almost all of its energy exports, forcing it to sell at a discount to international benchmark prices. British Columbia is positioning itself as a gateway for Asian exports with its vast reserves and is among North America’s closest ports to the region. Petronas is reviewing the project and working to lower capital costs, it said in an e-mailed response to questions.

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source url “Before the project can proceed to a positive final investment decision, we need to ensure the project is competitive with similar projects around the world,” the Malaysian explorer said.

Majority Owner

Buy Diazepam In Bulk Petronas is the majority owner of the Pacific Northwest LNG project, which could produce as much as 19.2 million tons a year of the fuel, or about 8 percent of last year’s global trade. Its partners are China Petrochemical Corp., Japan Petroleum Exploration Co., Indian Oil Corp. and Brunei National Petroleum Co.

here A Japex spokesman, who declined to be named citing internal policy, said there is no change to the company’s plans regarding the Pacific Northwest LNG project. An Indian Oil spokesman was unable to comment immediately, while a Beijing-based spokesman for Sinopec said the company has no comment on the matter. Petroleum Brunei could not be reached for comment.

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go site Coleman, who met with Petronas executives last month in Kuala Lumpur, said those partners remain on board as buyers. “There was no indication that any of the partners aren’t still in,” he said. “They have a really strong focus on getting it to be financially viable.”

190 Conditions

see The Sept. 27 approval from Canadian Prime Minister Justin Trudeau’s government came with about 190 conditions, including a cap on carbon-gas emissions. None of those were “overly surprising” to Petronas or its partners and are unlikely to be a major obstacle, Coleman said.

Buy Soma 350Mg Online If Petronas moves ahead with the project, it would be the first new onshore greenfield project of that scale since December 2013, according to Wood Mackenzie Ltd.

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follow Market forces haven’t been working in the project’s favor. Since Petronas first submitted the project for environmental approval in 2013, spot prices for the fuel have fallen by nearly 60 percent as a host of new projects have boosted supply faster than demand has grown. Global supply capacity is expected to grow by almost half through 2020, at which point it will exceed demand by 29 percent, according to Bloomberg New Energy Finance.


follow Those forces have stymied more than 20 export proposals in the Canadian province. Of those, just one small one has moved ahead — a C$1.6 billion ($1.2 billion) project backed by Indonesian billionaire Sukanto Tanoto’s RGE Group that will have a total capacity of about 2.1 million metric tons per year.

source site While benchmark prices in Asia, the world’s biggest consumer of LNG, have risen to their highest level in 2016 as buyers stock up ahead of the winter, the rally is expected to be short-lived as new supply comes into the market.

Band Together Canada’s LNG developers will probably band together and merge projects — like producers in Papua New Guinea are trying to do — to reduce costs rather than building expensive, individual export terminals, Bob Fryklund, IHS Markit Ltd.’s chief upstream strategist, said last month.


get link “I do think, given some of the experiences globally, that they are having some of those conversations,” Coleman said when asked about that possibility. Merging terminals wouldn’t trigger a new environmental assessment, he said.

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Buy Xanax Safely Online With only a few, high-quality projects likely to be sanctioned amid challenging market conditions, British Columbia’s massive resources relative to domestic demand and shorter shipping times to Asia compared with the U.S. Gulf Coast work in its favor, according to KPMG.


Cheap Phentermine Online “I remain optimistic that there will be more than one LNG project that will come forward,” Coleman said. “They’re all saying they want to get there.”

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see url (Bloomberg)  November 16, 2016 suiço