Official (Alberta) Oil Discussion Thread

[Fuzz]

Ah, from the CBC article:

In the fall of 2018, the Shell Canada-led LNG Canada consortium announced it would proceed with its $40-billion, 14-million-tonne-per-year project, also to be built near Kitimat. It's expected to be in service by 2024.

[HockeyIlliterate]

Originally Posted by Fuzz

https://www.cbc.ca/news/canada/calga...-gas-1.5386132

From the article:

The project is in its pre-front-end engineering design (FEED) phase and has not yet been given the go-ahead, he added.

It is astounding how long it has taken for this project to progress.

The project is going on almost 10 years now, has involved at least 5 different oil companies (two of which I believe no longer even have operations in Canada), and has cost billions of dollars.

And, to think, when it originally conceived, FID was expected to occur by 2017 or so.

[accord1999]

Originally Posted by HockeyIlliterate

And, to think, when it originally conceived, FID was expected to occur by 2017 or so.

Meanwhile, the Australians are already nearing 80 million tonnes of LNG exported per year, more than 5X the initial capacity of LNG Canada.

https://www.lngworldnews.com/energyq...ar-in-fy-2019/

At the rate the Australians, Americans and Qataris are growing their LNG exports, there might not be much left for Canada by the time it gets a single facility online.

[Tiger]

Originally Posted by accord1999

Meanwhile, the Australians are already nearing 80 million tonnes of LNG exported per year, more than 5X the initial capacity of LNG Canada.

https://www.lngworldnews.com/energyq...ar-in-fy-2019/

At the rate the Australians, Americans and Qataris are growing their LNG exports, there might not be much left for Canada by the time it gets a single facility online.

Canada is the shortest shipping distance though to Asia

[DiracSpike]

Originally Posted by Tiger

Canada is the shortest shipping distance though to Asia

Distance doesn't matter that much in modern shipping because the payloads are so large. What matters in LNG is size, scaling, volumes, market share, and existing contracts. The Americans Australians and Qataris eat our lunch on all of those. Even if distance was important, shipping from Port Hedland Australia LNG hub to Tokyo is 300 nautical miles shorter than Kitimat to Tokyo, and even shorter to Korea and China. LNG went from nothing to Australia's number 2 export in a decade, and it's not like they were some banana republic before, they're a modern first world economy. Too bad Australians and Americans actually care about driving value for their companies and citizenry and Canadians don't.

[puckedoff]

Yes but just think how much better the climate is now with Australians creating the GHGs instead of Canadians!

[Tiger]

Originally Posted by DiracSpike

Distance doesn't matter that much in modern shipping because the payloads are so large. What matters in LNG is size, scaling, volumes, market share, and existing contracts. The Americans Australians and Qataris eat our lunch on all of those. Even if distance was important, shipping from Port Hedland Australia LNG hub to Tokyo is 300 nautical miles shorter than Kitimat to Tokyo, and even shorter to Korea and China. LNG went from nothing to Australia's number 2 export in a decade, and it's not like they were some banana republic before, they're a modern first world economy. Too bad Australians and Americans actually care about driving value for their companies and citizenry and Canadians don't.

Sorry... add the geopolitical stuff too, you have to potentially add going around Chinese controlled waters too. Coming from Canada eliminates potential issues. But you're 100% right, we need these built 5 years ago. just still advantages to building them now.

[Fighting Banana Slug]

Cost of the gas supply would be important as well. Our stuff is cheap.

[Weitz]

Ottawa changing their tone on LNG today. Not good news.

[peter12]

Originally Posted by DiracSpike

Distance doesn't matter that much in modern shipping because the payloads are so large. What matters in LNG is size, scaling, volumes, market share, and existing contracts. The Americans Australians and Qataris eat our lunch on all of those. Even if distance was important, shipping from Port Hedland Australia LNG hub to Tokyo is 300 nautical miles shorter than Kitimat to Tokyo, and even shorter to Korea and China. LNG went from nothing to Australia's number 2 export in a decade, and it's not like they were some banana republic before, they're a modern first world economy. Too bad Australians and Americans actually care about driving value for their companies and citizenry and Canadians don't.

Dude, it matters. Why do you think Prince Rupert has a port?

[_Q_]

Originally Posted by Weitz

Ottawa changing their tone on LNG today. Not good news.

What exactly are they saying? I can't find any news on this.

[Azure]

Originally Posted by Fuzz

https://www.cbc.ca/news/canada/calga...-gas-1.5386132


Nice to have some good news on the approvals front..

Great news. LNG is the future of the energy industry. We are only scraping the surface of what is possible in terms of clean world-wide energy usage.

[Weitz]

Originally Posted by _Q_

What exactly are they saying? I can't find any news on this.

There were some people tweeting about what the environment minister was saying.

https://twitter.com/user/status/1203812754693513217

[Northendzone]

it really seems to me that the government needs to sit down and think thru all of their energy climate policies and then publish them istead of what seems like a patchwork of approaches:
- like commit 100% one way or the other on TMX. And then make a clear announcement about future pipelines
- if coal is not good enough for us to burn here in canada, why do we continue to ship it to china
- are we going to allow LNG to be shipped or not

This foot dragging is not good for companies, investors, employees, consumers. If the country needs to rework the power grid lets get on with it. If we re in real cliamte emergency, then shut down the production of internal combustion engines, limit the sale of gas. Jack up the carbon tax to a level that really forces people to make decisions.

If Canada is going to turn into Venezula north, I want to see it during my lifetime so I have a sense of what my kids will have to live thru.

Give these 16 yrs old protesters the life they are desperately protesting to have

[DiracSpike]

Originally Posted by peter12

Dude, it matters. Why do you think Prince Rupert has a port?

It's not nearly as busy as Vancouver though, which cuts against your theory if distance is key. Obviously it matters a little bit but once the payloads get to a certain size it starts to be a secondary factor, hence why companies contract larger ships that can't even transit the panama or suez canal shortcuts. When people are purposefully pursuing voyages that are 5000km longer or more it's because distance is a tertiary factor.

Also good to see our benevolent Liberal government is just as stupid now as it was before the election. If you're calling into question LNG in any way you're a ####ing moron, economically and environmentally. It's also hilarious that Justin tried to trumpet LNG Canada as a counter to the correct narrative private investment in this country is cratering and now it seems like they could take it or leave it. Idiots. Thanks again Ontario.

[GGG]

At least BC will be on outside this time and we can get back to the natural order of the West fighting Ottawa

[Ironhorse]

Originally Posted by DiracSpike

It's also hilarious that Justin tried to trumpet LNG Canada as a counter to the correct narrative private investment in this country is cratering and now it seems like they could take it or leave it. Idiots. Thanks again Toronto and Montreal.

Fixed your post.

[burn_this_city]

Liberals must have received a firm dressing down from their ENGO handlers.

[Husky]

A ton of layoffs at paramount today.

[burn_this_city]

Chevron reported they are considering selling their stake in Kitimat LNG.

https://www.bnnbloomberg.ca/chevron-...sets-1.1360647