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

Big victory for Quesnel’s U16 girls softball team in Kamloops

Unstoppable bats and a gem from Musselman propelled the girls to the win

Local athletes impress on Day 1 of Zone track and field event

CSS, QJS students showed off impressive skill as Quesnel hosts North Central Zone Championships

Tsilhqot’in community names officially recognized by Province

Tsilhqot’in names will now appear on provincial government resources, maps and databases

Editorial: respect where it’s due

Quesnel’s youth are impressive in their maturity and eloquence

Billie Bouchie Day celebrates Bouchie Lake’s community, culture and heritage

Activities planned for May 25, 26 include a Pioneer Family Tea, Métis history presentations and more

VIDEO: Grand Forks shores up defences as floodwaters rise to peak levels

Canadian Forces, volunteers working to protect low-lying areas

Chilliwack Chiefs moving on to RBC Cup final after thrilling win over Ottawa

Kaden Pickering scored the winning goal in the 3rd period as Chilliwack won their semi-final 3-2.

VIDEO: As floodwaters recede, crews assess the damage to Grand Forks’ downtown

More than four dozen firefighters and building inspectors came out to help

Wellington Dukes pull off epic upset of Wenatchee at RBC Cup

The Dukes are off to the championship game after downing the Wild 2-1 Saturday at Prospera Centre.

Canada to face U.S. for bronze at world hockey championship

Canada was looking to play in the gold medal game for a fourth straight year, but saw 3-2 loss

Searchers for Vancouver Island father turn focus to Cowichan River

Cowichan SAR joined by many other SAR groups, volunteers now determined to find missing man

Vacationers urged to check for stowaway bats that could carry deadly disease

‘White-nose syndrome’ has killed millions of bats in North America, but hasn’t arrived in B.C. yet

Are B.C.’s gas prices enough to keep you from travelling May long weekend?

Gas prices in B.C. ranging from 125 cents per litre to more than 150 cents

Prince Harry, Meghan Markle wed in Windsor as millions watch

Windsor sparkled on a warm spring day as tens of thousands of people jammed its quaint roads

Most Read