Tag Archives: lng

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Global oversupply sets up LNG for a year of record low prices

Coastal Gaslink and the Kitimat LNG Facility are ramping up and expect to have thousands of workers on site by the end of this year.

SINGAPORE (Bloomberg) – Liquefied natural gas prices are poised to test record lows this year thanks to an onslaught of new supply and warmer winter temperatures curbing consumption.

The startup of new export projects from Australia to the U.S. has flooded the market, while brimming stockpiles in Europe and an expected slowdown in Chinese demand have dumped cold water on consumption prospects. LNG for spot delivery to North Asia is on track to hit an all-time low this summer, while gas prices in Europe and the U.S. are trading at the weakest seasonal levels since 1999.

February 1, 2020

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LNG for Marine Shipping Emits More Than Fuel Oil – The Energy Mix

The methane routinely released by container and cruise ships operating on liquefied natural gas (LNG) makes them a bigger climate threat than the heavy fuel oil vessels they’re increasingly replacing, according to a bombshell working paper released yesterday by the International Council on Clean Transportation and STAND.earth.

The report concludes that the most popular among the new generation of LNG Marine engines “is also the leakiest,” ICCT reports, producing 70 to 82% more carbon and methane pollution than the least-polluting traditional fuel. While LNG produces fewer immediate emissions than the alternatives when it’s burned onboard a ship, its impact is multiplied when a life cycle analysis factors in the methane released through hydraulic fracturing, or fracking, as well as “methane slip” during routine ship operations

January 29, 2020

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Green Myths Canada’s LNG Sales Force Tells the World | The Tyee

The pitch goes like this: According to LNG Canada, the big Shell project now under construction in northern B.C., could replace 20 to 40 coal-fired plants in countries like China and India with Canadian methane, and reduce their emissions by 60 to 90 million tonnes.

It’s true that LNG burns cleaner than coal, but when unburned and released into the atmosphere it is a much more potent greenhouse gas than carbon dioxide in the short term. Methane’s warming effect is 87 times greater than carbon dioxide over a 20-year period, and 36 times greater over a 100-year period.

And thanks to fracking, a lot of LNG does escape unburned into the atmosphere, the amount accelerating in recent years due to venting, flaring, leaks, spills and other factors tied to the drilling method.

January 24, 2020

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‘A blessing and a curse’: Boom from $40B Kitimat LNG plant means challenges for small B.C. communities | CBC News

Aside from needing more barbers, communities say they also need more police and bylaw officers to respond to some of the problems that come with a rapidly growing population — but questions remain about who will pay for that.

Rentals in short supply

Already, approximately 1,000 workers are in place and the impact can be seen everywhere, said Nechako Barber Shop owner Tracy Best.

“Everybody’s got ‘Help Wanted,’ signs,” she said, adding it’s difficult to recruit people into service-industry positions with high-paying camp jobs nearby.

Even so, the Kitimat Chamber of Commerce is warning people against simply showing up in town expecting to cash in.

December 29, 2019

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British Columbia is trying to fuel an LNG boom with billions in industry handouts – Oil Change International

The Canadian province of British
Columbia (BC) is shaping up to be one of the worst actors in the global
dash for gas, facilitating Indigenous rights violations and climate
chaos while they try to stake out a reputation as progressive leaders on
both.

A study
released last month from the International Institute for Sustainable
Development (IISD) and Environmental Defence Canada found BC gave out at
least CAD 830 million in fossil fuel subsidies in the 2017-2018 fiscal
year, and has amassed at least $3.1 billion in outstanding royalty
credits (these are foregone royalties that are to be paid back to
industry instead of going to fund public services). The bulk of these
supports have been designed specifically to boost the province’s liquid
natural gas (LNG) sector, the vast majority of which is fracked gas. The
provincial government introduced many of them this April, and they are
handily the most generous among Canadian provinces.

December 23, 2019

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Steve MacLellan

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Tag Archives: lng