IT’S A GO!

Canada LNG announces positive Final Investment Decision for Kitimat

LNG Canada has announced that its joint venture participants – Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS – have taken a Final Investment Decision (FID) to build the LNG Canada export facility in Kitimat, British Columbia, in the traditional territory of the Haisla Nation.

“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,” said Andy Calitz, CEO of LNG Canada. “This decision showcases how industrial development can co-exist with environmental stewardship and Indigenous interests.”

Each joint venture participant will be responsible to provide its own natural gas supply and will individually offtake and market its share of LNG. The FID is for two processing units or “trains,” with first LNG expected before the middle of the next decade.

“The project LNG Canada is bringing to northern B.C. symbolizes the kind of balanced and sustainable path forward British Columbians are looking for,” said B.C. Premier John Horgan. “We welcome the unprecedented commitment shown by the LNG Canada partners to work within our province’s ambitious climate goals. The critical importance of this project is what it represents – the intersecting of economic development, jobs for local workers, partnerships with Indigenous communities and forward-looking climate leadership.

We’re delighted the global business community sees British Columbia as a natural home for this kind of investment.” LNG Canada has worked towards FID since it first identified Kitimat from a list of 500 potential sites in British Columbia as the ideal location for an LNG export facility.

LNG Canada’s export plant has been designed to achieve the lowest carbon intensity of any large-scale LNG plant operating in the world today. LNG Canada achieved this through a combination of using renewable hydropower from BC Hydro and highly-efficient gas turbine engines.

With demand for LNG expected to double by 2035 compared with today as a result of global commitments to reduce greenhouse gas emissions and improve air quality, LNG Canada will provide natural gas to countries where imported gas could displace more carbon-intensive energy sources and help to address global climate change and air pollution.

“We look forward to helping Canada take its place on the global map of LNG exporting countries and want to recognize the important role played by all levels of government, First Nations and the many people that supported LNG Canada to help us get to an FID,” said Calitz. “We also thank our joint venture participants for their trust in our ability to deliver a cost-competitive and reliable source of LNG for their global portfolios.”

LNG Canada is advantaged by access to abundant, low-cost natural gas from British Columbia’s vast reserves and the relatively short shipping distance to North Asia, which is about 50 per cent shorter than from the U.S. Gulf of Mexico and avoids the Panama Canal. The LNG Plant will be constructed on a large, partially-developed industrial site with existing deep-water port, roads, rail and power supplies.

Just Posted

Nathan Cullen named Parliamentarian of the Year

Skeena-Bulkley Valley MP won the top-title Nov. 5

VIDEO: Taking to the skies to protect moose in the Cariboo Chilcotin

Conservation Officer Service doubles patrols to oversee moose harvest

New Coast Guard radar boosts marine traffic monitoring off B.C. coast

Six radar installations set up for Georgia Strait to Queen Charlotte Strait to Prince Rupert

Central Coast Regional District swears in new Board of Directors

There are three new faces representing our region and two returning directors

VIDEO: Black horse signals ‘sign of peace’ for Tsilhqot’in Nation

Justin Trudeau rides black horse provided by Cooper family

VIDEO: Two officers of B.C. Legislature escorted out amid investigation

Clerk of the House Craig James, Sergeant-at-arms Gary Lenz on administrative leave

Shirtless stranger loomed over couch and started stabbing, bloody B.C. murder trial hears

Colin John pleads not guilty as trial opens in 2016 Chemainus murder case

Late 2019 too long to wait for ridesharing: B.C. Conservatives

“While the rest of the world is embracing this transportation revolution, B.C. is only now staggering slowly toward legislation on a business model that’s been mainstreamed for over a decade in other jurisdictions.”

Police aim to prevent retaliation after Hells Angel found dead under B.C. bridge

IHIT confirms Chad Wilson, 43, was the victim of a ‘targeted’ homicide

ICBC warns shoppers of the high-accident season at mall parking lots

Over 150,000 accidents happened during the holiday season last year

No deal in sight: Canada Post warns of delivery delays into January

Union holds fifth week of rotating strikes as both sides remain apart on contract negotiations

COLUMN: Higher interest rates will slow B.C. economy after ‘unusually robust’ show

Jock Finlayson is executive vice president and chief policy officer of the Business Council of BC

Jason Aldean, Old Dominion to headline Merritt’s Rockin’ River concerts next summer

Four-day music festival at Coldwater River from Aug. 1 to 4

Most Read