Canada Sees Significant LNG Project Progress, ‘Shovels in the Ground’ Consensus
LONDON, June 30, 2015: Recent days have seen significant steps for major Canadian LNG projects in taking Final Investment Decisions (FIDs) and winning vital environmental approval.
Canada’s Environment Ministry has approved Shell’s LNG Canada project at Kitimat, BC contingent on the project meeting 50 environmental, social and operational conditions. Federal Environment Minister Leona Aglukkaq has taken the crucial step in granting Shell the licence by justification of long-term benefits to Canada in terms of massive job and revenue creation. In addition, the province of British Columbia issued its own environmental certificate stressing that ongoing consultation with aboriginal peoples and local communities is key.
Days prior to Shell’s announcement, another major step forward for the burgeoning Canadian LNG industry has been taken by Petronas. The Malaysian energy giant’s Pacific Northwest LNG project has received the conditional FID from the Petronas Board setting in motion the next phase of the $36-billion project. Pacific Northwest LNG’s president, Michael Culbert, emphasises the critical timing of this decision in a statement: “The integrated project is poised to create thousands of construction and operational careers in the midst of the current energy sector slowdown.” He adds, “A Final Investment Decision is a crucial step to ensure that the project stays on track to service contracted LNG customers.”
With the slump in oil prices and ensuing economic uncertainties, the fourth annual Canada LNG Export Conference & Exhibition (May 2016) comes at a critical juncture in the country’s future as a viable energy exporter.
Once again leading LNG project operators, infrastructure developers, legislative and regulatory partners, Asian and European importers, First Nation communities, and technology innovators will assemble to forge business partnerships, debate critical challenges and plan the next phases in project development.
Major stakeholders will examine key issues of and best practice insights on: Latest Project Approvals and Updates, Government & Regulatory Processes, Corporate Social Responsibility and Community Engagement, LNG Project Management Lifecycle, Investment Strategies, Midstream Infrastructure, LNG Shipping operations, Workforce Recruitment drives as well as Operational and Technical Excellence.
Real-time project developments like these have profound investment implications not just for the project operators, but for the upstream and midstream resource companies, and the EPC and technology providers critical to the entire LNG value chain.
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SOURCE dmg::events (UK) Ltd