LNG

Five First Nations can invest up to C$1 billion to own an LNG storage tank – as part of the LNG Canada’s Phase 2 expansion – and lease it back to the terminal developer for the operational life of the project. The tank would have a capacity of 225,000 cubic metres and would be built in Kitimat, BC, with an investment decision on Phase 2 targeted by the end of 2026.

LNG Canada, the export project led by Royal Dutch Shell and four Asian partners in the West Coast province of British Columbia, said it had approved more than US$770 million in contracts and subcontracts and expected to employ around 10,000 Canadian workers as activities develop.

Steelhead LNG, the Canadian project developer, said its Kwispaa floating export venture proposed for Sarita Bay at Vancouver Island has filed for regulatory permits from the provincial British Columbia government and the federal authorities in Ottawa.

Chungchan Sinoenergy Corp., the Chinese clean fuel distribution and infrastructure developer, said it signed a framework agreement to invest up to US$50 million for 30 percent equity in a liquefied natural gas export project at Sarita Bay in the Canadian province of British Columbia owned by Steelhead LNG.

Canadian ministers and provincial British Columbia officials had signed an agreement with native North American First Nations to give them a role in the planning and environmental monitoring of the Pacific NorthWest LNG project proposed by Petronas of Malaysia.

The provincial government of the Canadian Province of British Columbia said it was not prepared to offer better tax deals just to get the NorthWest LNG project built and to offset the high expected costs of 190 conditions imposed by the federal government.