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.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Penticton RCMP express concern over allowing public drinking

RCMP said they expressed their concern to the city but will do their best ensure safety

Regional District of Okanagan-Similkameen pre-approves temporary expanded patios during COVID-19 pandemic

Blanket pre-approval granted to all licensees within regional district’s boundaries

Man climbs out window to escape Penticton structure fire

Crews responded to a structure fire early Wednesday morning up Green Mountain Road

Osoyoos man arrested, charged with possession of child pornography

Shawn Barry Titus, 37, was arrested at a motel in Osoyoos on May 21

WATCH: North Okanagan golf cart stolen, then returned

Homeowners have footage of two men taking the cart and then bringing it back

B.C. ranchers, lodge operators say Indigenous land title shuts them out

Tsilhqot’in jurisdiction affects grazing, access to private property

As two B.C. offices see outbreaks, Dr. Henry warns tests don’t replace other measures

Physical distancing, PPE and sanitizing remain key to reduce COVID-19 spread

VIDEO: Top cop calls video of Kelowna Mountie striking suspect ‘concerning’

A video allegedly shows a Kelowna Mountie striking a man several times

Greater Victoria drive-thru window smashed after man receives burger without mustard

Greater Victoria Wendy’s staff call police after man allegedly rips Plexiglas barrier off window

$220K for Okanagan Rail Trail loo

Successful proposal for Westkal Road comes ‘well within project budget’

Public facilities in Keremeos now open

The Village has reopened with social distancing measures in place after COVID-19 closures

UBC announces downtown Kelowna campus

Construction not anticipated to begin for two years, due to zoning processes

Murder charge upgraded in George Floyd case, 3 other cops charged

Floyd’s family and protesters have repeatedly called for criminal charges against all four officers

Most Read