LNG Canada Approval Opens High Value Markets to Stimulate Investment, Says GlobalData

Posted by OilVoice Press - OilVoice


Following yesterday's (Wednesday 02 October 2018) announcement of the approval of the Canada LNG project, Will Scargill, Senior Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the significance of the decision:

“The LNG Canada project approval opens new, high value sales markets which are likely to stimulate major investment in Western Canada's major gas plays, the Montney and the Duvernay. The May 2018 entry into the LNG Canada JV of Petronas, a major player in the Montney, highlights the project's significance for the upstream segment.

“The price gulf between Asian spot LNG prices of around US$10/Million British Thermal Units (mmBtu) and current realized prices of less than US$2/mmBtu for Canadian producers presents a major value upside to support investment. While significant new LNG capacity is expected to come on stream in the early 2020s, new projects such as this will likely be needed to meet continued demand growth through the second half of the 2020s.

“The initial LNG plant capacity of 14 million tonnes per annum (mtpa) is equivalent to over one third of British Columbia's current gas production. It also surpasses the amount of gas that the province exports to the US, its only existing foreign export destination. The estimated US$14bn cost makes it the largest upcoming LNG investment project globally to have achieved FID.”

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

CanadaLiquified Natural GasCameron LNGGlobal Data

More items from oilvoice

Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice

Posted 6 days agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice

Posted 4 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice

Posted 8 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice

Posted 8 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice

Posted 8 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice