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| LNG Canada continues to work towards a Final Investment Decision for the terminal plans for Kitimat, however they spent much of this week knocking down rumours that the big moment was at hand. |
Officials from Shell, the international energy company that has established a Canadian presence for the Kitimat region was doing its best on Thursday to dampen down any expectations of some kind of big announcement related to their plans this week for development of their LNG Canada project.
Over the course of the early part of the week, reports began to circulate of some kind of major announcement to come shortly related to the 40 billion dollar energy project along Douglas Channel, with much of the speculation related to Shell's Second Quarter dividend announcement of Yesterday.
Such was the increasing pace of the rumours, that Shell was quick to their Facebook page on Wednesday evening to lower any expectations from residents in the area as to the prospect of a big announcement set to be revealed.
And while there is still no green light flashing for the project, the groundwork seems to continue to be put in place for a positive investment decision in the not too distant future.
Earlier this week, Shell announced that, Petronas, was taking a 25 percent stake in the proposed Kitimat project.
It marks a return to terminal development for Petronas, the once upon a time proponent of Port Edwards' Pacific Northwest LNG terminal for Lelu island, a project which it abandoned last year.
Of note for North Coast LNG advocates, it was the purchase of BG Gas by Shell back in 2015 that also delivered the end to one of Prince Rupert's other highly anticipated LNG Projects, with the Prince Rupert LNG project taken off the Shell inventory list in March of 2017.
Since those twin departures the prospects of LNG development on the North Coast have dimmed significantly over the last year, with Aurora LNG cancelling their plans in September of 2017 and the Exxon led Tuck Inlet proposal slowing its pace when it comes to that development.
That decision for investment in the Kitimat project makes the Malaysian energy giant the second largest investor in the LNG Canada proposal, with Shell holding a 40 percent share and the remaining 35 percent split among three other Asian investors.
Should Shell and its partners move forward towards development of the LNG Canada project, it is expected to generate 4,500 jobs during the construction phase, with the company observing that 95% of those positions will be for Canadian workers, with a strong desire to keep a local focus on employment opportunities.
Once in operation, LNG Canada has estimated that in the first phase of operations up to 450 people will be employed at the terminal, with an increase of up to 800 should the full project of four trains be built.
Some of the growing anticipation for some forward momentum for the project can be found from the range of media articles that have charted the projects ebb and flow over the last few weeks.
Shell not ready to green light $40B LNG Canada project yet
Potentially pivotal date': Gas analysts look for clues from Shell on $40B LNG Caanda project on Thursday
LNG Canada in B.C. to hire mainly Canadian workers for $40 billion project construction
'I would put money on it': LNG Canada dreams closer to coming true as Shell ramps up in Kitimat
Shell-LNG deal definitely coming
Petronas now officially a partner in LNG Canada
LNG Canada ticking boxes toward approval of proposed $40 billion facility: service company execs
LNG Canada's planned $40B Kitimat project moving toward approval
Momentum builds for LNG Canada as pipeline workcamp contract awarded
Petronas officially takes stake in LNG Canada project (video)
Petronas secures 25% of LNG Canada
LNG Canada in BC to hire mainly Canadian workers for 40 billion project construction
More notes related to the LNG scene in Northwestern BC can be found here.
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