Shell sees strong case for second phase of LNG Canada after conversations with governments
Shell's CEO has indicated a strong possibility for the expansion of the LNG Canada export terminal in Kitimat, B.C., following discussions with government officials. The company recently announced a $16.4 billion acquisition of ARC Resources, enhancing its natural gas holdings in the region. The expansion could double the terminal's capacity, positioning Shell to better serve Asian markets.
- ▪Shell's CEO stated that conversations with the Canadian and B.C. governments have increased the likelihood of LNG Canada Phase 2.
- ▪The $16.4 billion acquisition of ARC Resources will significantly boost Shell's natural gas holdings in the Montney basin.
- ▪LNG Canada Phase 2 could potentially double the terminal's capacity to 28 million tonnes per year.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:A tanker fills up at an LNG Canada facility in Kitimat, B.C., on Nov. 13.ETHAN CAIRNS/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountConversations with the federal and British Columbia governments have “raised the likelihood” of the LNG Canada export terminal expansion in Kitimat, B.C., says Wael Sawan, Shell PLC’s SHEL-N chief executive, with a decision on the project expected in the coming months.Mr. Sawan’s comments come on the heels of Shell’s announcement Monday that it is buying Calgary-based ARC Resources Ltd. – the largest pure-play producer in the Montney basin, which straddles Alberta and northeast British Columbia.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
