Sinopec, others join B.C. LNG hunt

Companies from China, India and Japan join global investors checking out gas export potential of North Coast

Premier Christy Clark and B.C.'s new trade commissioner Ben Stewart (left) tour LNG import facility in China.

Chinese petrochemical giant Sinopec, another Japanese player and an unidentified Indian company are joining the international move to explore liquefied natural gas exports from northern B.C., says Rich Coleman, B.C.’s minister for natural gas development.

Sinopec, ranked the fifth largest global company in 2011, is looking for LNG imports equivalent to the output of the world’s second largest LNG terminal, Coleman told reporters as Premier Christy Clark began a trade trip to Asia.

Another new player is Idemitsu Kosan Co., the second largest petroleum refiner in Japan, which is applying for a federal export permit in a partnership with Calgary-based AltaGas called Triton LNG.

China National Overseas Oil Company and its new subsidiary Nexen has put up a non-refundable deposit of $12 million toward purchase of provincial land on the north side of Grassy Point near Prince Rupert, Coleman said. Another unidentified company has shown interest in the south side of Grassy Point.

The new proposals add to a lineup of international investment proposed by Petronas, Chevron, Shell, British Gas and others, which are expected to make final investment decisions in 2014.

Coleman said the tax rate for LNG producers is to be presented to companies by the end of November, but it may not be public until the B.C. government table its budget in February.

 

Just Posted

OSNS #SmileWithOtis making the rounds in Penticton

The 38th annual Shaw Share a Smile Telethon in support of OSNS is Saturday

Funding to mitigate wildfire risk

South Okanagan’s regional district applies for $525,000

Rotary Club offers holiday trees

Proceeds from this fundraiser will support the Rotary Club in a variety of projects

Penticton treatment centre owner says she plans to raise the bar in care

Michelle Jansen has been an outspoken advocate for the development of rules

Railway to run trains on weekend

Tickets are selling quickly for Saturday rides on the Kettle Valley Steam Railway

Cancer scanner campaign halfway to its goal

Push on to acquire technology for Southern Interior cancer treatment centre in Kelowna.

Dead boy’s father posts Facebook response after Appeal Court upholds conviction

David, Collet Stephan were found guilty in their son Ezekiel’s 2012 death from bacterial meningitis

Bottleneck Drive names Dyer as coordinator

New coordinator has extensive background in wine marketing and writing

Trudeau mania, Scheer enthusiasm in B.C. this week

Prime minister, Conservative leader drop in on Surrey, White Rock

Forecasters promote avalanche safety awareness to kick off season

Avalanche Canada advising backcountry enthusiasts to get proper training and equipment.

B.C. church defaced with disturbing anti-Christian graffiti

Staff at Crossroads United Church reported the vandalism to police late last week

PayPal ordered to disclose business accounts to Canada Revenue Agency

Online payments company has 45 days to hand over information identifying its account holders

Federal government to boost treatment options for opioid drug users: minister

More than 2,800 people died last year as a result of the overdose crisis

Ambulance design changes urged after B.C. man falls out, dies

A coroner’s jury makes recommendations after hearing about death of Ebony Aaron Wood

Most Read