10 www.resourceworld.com
A P R I L / M A Y 2 0 1 4
Liquified Natural Gas (LNG) is being touted by many as the pot
of gold at the end of the rainbow for British Columbia, Canada.
Millions are being spent now, and billions more are earmarked for
the infrastructure that will be needed to support natural gas liq-
uefaction and its shipment to, what are supposed, to be eagerly
awaiting buyers overseas.
That follows BC Premier, Christy Clark's, pre-election claims that
LNG would bring $170 billion in revenue to the province plus
another $1 trillion in economic activity, perhaps enabling the elimi
-
nation of the provincial sales tax while creating up to 100,000 jobs
and funding a $100 billion Prosperity Fund – even paying off the
province's $60-billion+ plus debt.
Many players are considering plants on BC's west coast. Prince
Rupert projects include Aurora LNG by Nexen Energy [CNU-TSX],
a subsidiary of CNOOC Ltd. [CEO-NYSE], INPEX Corp. and JGC
Corp.; an LNG partnership between Imperial Oil [IMO-TSX] and
Exxon Mobile Canada [XOM-NYSE]; and, Woodside LNG by
Woodside Petroleum [WPL-ASX].
Looking at building on Port of Prince Rupert lands are Pacific
Northwest LNG by Progress Energy, now owned by Petronas
[MY:PETGAS-KUL], and Japan Petroleum Exploration Co. [JP-
1662]; and Prince Rupert LNG by British Gas [BG-L]. Considered
for Kitimat are Douglas Channel Energy, a joint venture between
Golar Energy [GLNG-NASDAQ] and the Haisla First Nation;
Kitimat LNG by Apache [APA-NYSE] and Chevron [CVX-
NYSE]; LNG Canada by Shell Canada, PetroChina [PTR-NYSE],
The proposed Kitimat, British Columbia LNG facility. Image courtesy Apache Canada Ltd.
BRITISH COLUMBIA
B I G D R E A M S – B I G C H A L L E N G E S
LIQUID NATURAL GAS
by Bruce Lantz
