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

The two sites in question included a number of commercial buildings, some of them currently boarded up. (Langley Advance Times files)
Deal to add Fort Langley land to Kwantlen reserve called off

Elders and a land advisory group within the KFN opposed the project

The RCMP helicopter. (File photo)
Suspect escapes after police pursuit through Surrey, Langley, Abbotsford

Police chase involved two stolen vehicles, including one taken in Mission

Dwain and Lillian Seymour discovered their Murrayville home was listed for rent without their knowledge as part of a scam. (Langley Advance Times/file)
Guilty plea in Langley rent fraud case

Arrested man admits to 14 criminal counts

Police boats were called in to search the Fraser River after a report that a plane had crashed where the river runs between Langley and Maple Ridge. (Shane MacKichan/Special to The News)
Investigation enters final phase, missing aircraft last seen over Fraser River

Small aircraft was carrying a student and instructor on June 6

Langley’s Brian Morton and Cadillac won the $73,000 ATCO Cup Grand Prix at the Harvest Welcome event held at Thunderbird Show Park on October 18, 2020. (Rob Wilton/special to Langley Advance Times)
VIDEO: Langley rider Brian Morton wins ATCO Cup at Thunderbird Show Park

His first FEI win with Cadillac at the venue that jump-started his show jumping career

Mary Foote (right) took part in the Gutsy Walk in August 2020 at the age of 104. She was joined by son in-law Clarence and daughter Edith Olson. (family photo)
Langley woman turns 105 on Oct. 25

In August, Mary Foote took part in the Gutsy Walk to battle Crohn’s and Colitis

With local MLA Adam Olsen looking on, BC Greens leader Sonia Furstenau said a Green government would convert BC Ferries into a Crown corporation Wolf Depner/News Staff)
Green leader Sonia Furstenau promises to convert BC Ferries back into Crown corporation

Promise comes Monday afternoon with five days left in campaign

IIO Chief Civilian Director Ron MacDonald. (File photo: Tom Zytaruk)
Police watchdog concludes Mounties didn’t shoot Surrey teen at strip mall

IIO finds tragic death of teenager ‘not the result of any actions or inactions’ by the Surrey RCMP

A passer-by walks past a COVID-19 testing clinic in Montreal, Friday, Oct. 16, 2020. THE CANADIAN PRESS/Ryan Remiorz
Canada ‘yet to see’ deaths due to recent COVID surge as cases hit 200,000

Much of the increase in case numbers can be attributed to Ontario and Quebec

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Police confirm human remains were found in a recycling bin in Vancouver on Oct. 18, 2020. (Black Press Media file photo)
Human remains found in recycling bin floating near Vancouver beach

Police asking nearby residents to see if their recycling bin has gone missing

Emergency crews shut down White Rock’s Five Corners district on Feb. 19, 2020 after an altercation left an elderly man in critical condition. (File photo)
Trial dates set in White Rock manslaughter case

Proceedings against Ross Banner, 71, set for June 2021 in Surrey Provincial Court

The many faces of Daon Glasgow. (Photos: Surrey RCMP)
Glasgow found not guilty of trying to murder transit cop in Surrey

Transit Police Constable Josh Harms was shot Jan. 30, 2019 at Scott Road SkyTrain Station

Most Read