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

“Bullet missed me by an inch”: Man recounts shooting at Kamloops hotel

Penticton man witnessed Summerland resident Rex Gill’s murder in Kamloops

Columbia Basin Trust offering grants for Community Outdoor Revitalization

Whether it’s a downtown core, plaza or waterfront, outdoor public spaces help… Continue reading

Letter to the editor: Council ignoring policing needs

Local resident “appalled” at the lack of budget increases for the RCMP

Okanagan ski resort officials displeased with Family Day roll-out

From one peak of the Okanagan to the other, resort officials have raised concerns

The New Groovement to play Revelstoke

The genre-bending mash-up of the funkiest, booty-shaking dance music to take over River City Pub

Lynx slinks across Penticton street in broad daylight

A Facebook users captures a lynx on camera near Penticton

B.C. man survives heart attack thanks to Facebook

A Princeton man suffered a heart attack while at an isolated property with no cell service

Highway 97 north of Summerland could be open by end of week

Detour in place as crews continue to clear rock slide and stabilize area

B.C. man sues Maxime Bernier’s People’s Party over trademark

Satinder Dhillon filed application for trademark same day Maxime Bernier announced the new party

Minister says plans to fight poverty, climate change, focus of B.C. budget

The NDP said in its throne speech last week that affordability will be the hallmark of its initiatives

UPDATE: Missing snowshoer identified as 39-year-old Surrey man

Search suspend because of bad weather on Mount Seymour

Make sure measles shots up to date, Public Health Agency says

Measles causes high fever, coughing, sneezing and a widespread painful rash

Bomb threats, gunfire, kidnapping: Drug war rocks Kamloops

Kamloops RCMP battles a series of violent events

B.C. hotel trashes Channing Tatum in favour of Ryan Reynolds

Tatum’s picture left in recycling bin, replaced with photo of Ryan Reynolds

Most Read