In another blow to Canada’s energy industry, Chevron says it will halt its feasibility funding on the massive, Kitimat LNG project on B.C.’s north coast..Chevron, which is active in 180 countries, holds a 50 per cent stake in the project with Australia’s Woodside Petroleum Ltd..Project operator Chevron put its interest up for sale in December 2019, but has failed to find a buyer..The Canadian Press reported when the company put its stake up for sale, it said it would continue to work with Woodside on agreed project activities that brought value or were required for regulatory and operational compliance..“But in a statement on its website this week, Chevron says that it now plans to stop Chevron-funded further feasibility work,” The Canadian Press reported..“The project includes upstream resource assets in the Liard and Horn River Basins in northeast B.C., the proposed 471-km Pacific Trail Pipeline and plans for a natural gas liquefaction facility at Bish Cove near Kitimat, B.C. .Calgary-Centre Conservative MP Greg McLean laid the blame for the funding halt squarely on the feet of the federal Liberal party..“After 15 months of looking for an interested party, Chevron Canada has come to the conclusion that no one is prepared to buy their 50 per cent stake in the Kitimat LNG project, thanks to the Liberal policies and practices that continue to drive investments and jobs out of Canada,” said McLean, Conservative Shadow Minister for Natural Resources..“Liquified natural gas (LNG) from this project would be some of the cleanest in the world, and would displace dirtier and more costly energy resources like coal, and LNG from the Gulf Coast..“Losing this project would be a major blow for local First Nations that support the project and would see investments and good-paying jobs leave their communities. Failing to get this project built is not only a lost opportunity to reduce global emissions, it is also a lost economic opportunity for local First Nations communities and the rest of Canada..“Canada has become an unreliable jurisdiction to invest in because the Liberal government makes up rules and regulations as they go. The uncertainty this creates is driving away investments, jobs, and opportunities..“This project, representing a $24-billion investment and 4,500 construction jobs plus ongoing employment, reflects everything the Liberal government says it wants in an energy project, including rigorous indigenous consultation and environmental considerations. It is concerning that even a project like this has trouble being built in Canada..“There is no time to waste as the world waits for the solutions that Canada is best positioned to provide. Conservatives will work to secure a future where responsible, world-class energy projects can get built. It’s time we did better.”.Dave Naylor is the News Editor of the Western Standard.dnaylor@westernstandardonline.com.TWITTER: Twitter.com/nobby7694
In another blow to Canada’s energy industry, Chevron says it will halt its feasibility funding on the massive, Kitimat LNG project on B.C.’s north coast..Chevron, which is active in 180 countries, holds a 50 per cent stake in the project with Australia’s Woodside Petroleum Ltd..Project operator Chevron put its interest up for sale in December 2019, but has failed to find a buyer..The Canadian Press reported when the company put its stake up for sale, it said it would continue to work with Woodside on agreed project activities that brought value or were required for regulatory and operational compliance..“But in a statement on its website this week, Chevron says that it now plans to stop Chevron-funded further feasibility work,” The Canadian Press reported..“The project includes upstream resource assets in the Liard and Horn River Basins in northeast B.C., the proposed 471-km Pacific Trail Pipeline and plans for a natural gas liquefaction facility at Bish Cove near Kitimat, B.C. .Calgary-Centre Conservative MP Greg McLean laid the blame for the funding halt squarely on the feet of the federal Liberal party..“After 15 months of looking for an interested party, Chevron Canada has come to the conclusion that no one is prepared to buy their 50 per cent stake in the Kitimat LNG project, thanks to the Liberal policies and practices that continue to drive investments and jobs out of Canada,” said McLean, Conservative Shadow Minister for Natural Resources..“Liquified natural gas (LNG) from this project would be some of the cleanest in the world, and would displace dirtier and more costly energy resources like coal, and LNG from the Gulf Coast..“Losing this project would be a major blow for local First Nations that support the project and would see investments and good-paying jobs leave their communities. Failing to get this project built is not only a lost opportunity to reduce global emissions, it is also a lost economic opportunity for local First Nations communities and the rest of Canada..“Canada has become an unreliable jurisdiction to invest in because the Liberal government makes up rules and regulations as they go. The uncertainty this creates is driving away investments, jobs, and opportunities..“This project, representing a $24-billion investment and 4,500 construction jobs plus ongoing employment, reflects everything the Liberal government says it wants in an energy project, including rigorous indigenous consultation and environmental considerations. It is concerning that even a project like this has trouble being built in Canada..“There is no time to waste as the world waits for the solutions that Canada is best positioned to provide. Conservatives will work to secure a future where responsible, world-class energy projects can get built. It’s time we did better.”.Dave Naylor is the News Editor of the Western Standard.dnaylor@westernstandardonline.com.TWITTER: Twitter.com/nobby7694
