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Analog Devices, Inc. Message Board

  • dannynguyen76 dannynguyen76 Apr 4, 2013 6:27 PM Flag

    Shell Canada submits plan for LNG export plant

    Is this going to hurt DGAZ??Is that why the NG stay so strong.

    Shell Canada said Thursday it filed plans with federal and provincial environmental agencies for its $4 billion pipeline and liquefied natural gas export terminal in Kitimat, British Columbia.

    The project is a venture between Royal Dutch Shell’s RDSA +0.02% Canadian unit and Japan’s Mitsubishi Corp. JP:8058 +0.42% , Korea Gas Corp., and China’s PetroChina PTR +0.03% . If all goes well with the approval process, construction is expected to begin in 2015.

    There are at least half a dozen LNG developments in the works in British Columbia. Politicians in the province have embraced LNG exports — they plan on a “prosperity fund” that could accumulate between $130 billion and $260 billion from a natural gas royalties and taxes, with the money used to pay debt and even potentially eliminate sales taxes in the province.

    In the U.S., the dispute between supporters and detractors of domestic LNG exports makes the proxy war between Hess Corp. and Elliott Management look like a playground tussle.

    On one side, there are worries about domestic natural-gas prices going up and manufacturing jobs going down. America’s Energy Advantage, a group supported by such giants as Alcoa and Dow Chemical, says allowing LNG exports would cause prices to skyrocket, hampering the competitive advantage U.S. manufacturers have enjoyed thanks to cheap, plentiful supplies of natural gas.

    The other side argues the United States is leaving a lot of money on the table at a time when Asian countries are paying top dollar for the natural gas they very much need.

    And then there’s Canada.

    The chart above shows an estimate of how much LNG Canada would export to Asia, a market Bloomberg News pinned at $150 billion.

    And this estimates only the stuff one Canadian province, British Columbia, would be able to ship to places like Japan, China, and South Korea.

    The Frasier Institute (which worked on the chart) has said Canada must act quickl

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