Developed by Polish state-owned Gaz-System:ROCKMAN wrote:Reuters – “Poland is looking for partners in the United States and Canada from whom it could import LNG for its terminal due to be launched next year. Representatives of Poland's largest energy companies will go to the United States in September to hold talks on potential deliveries even though U.S. LNG prices were uncompetitive for Polish clients for now.
The Hughes report argued that the government's claim of a natural gas supply of 2,933 trillion cubic feet (Tcf) was not credible, given that the BC Oil and Gas Commission places B.C.'s proven reserves at 42.3 Tcf, with a total "marketable resource" (or what industry might be able to find, drill and frack) of 442 Tcf.
Reserves are a proven quantity based on drilling data, while resources remain a speculative number.
An email from Coleman's ministry said that it stands by the 2,933 Tcf as representative of "gas in place," or what other government websites describe as "marketable shale gas reserves."
But the ministry acknowledged that only 30 per cent of the 2,933 Tcf estimate -- or about 870 Tcf -- might be recoverable.
"With advancements in technology over the last few years, as well as investments made by industry to improve extraction methods in the province, the Ministry of Natural Gas Development believes a 30 per cent success rate is very achievable over the long-term," it said.
The ministry also referred to Hughes's conservative reserve number of 42.3 Tcf as "dated" and said that it "ignored the full size of the resource base."
(A cubic foot can fill a basketball, and B.C. currently extracts about 1.5 trillion cubic feet of fracked shale gas a year.)
In a separate commentary in the Asian Pacific Post, Coleman wrote that the province has 3,000 Tcf of "gas in place" and that the Hughes report misrepresented the facts.
Hughes fired back in the forum below the commentary: "Mr. Coleman's suggestion that 2,933 Tcf represents B.C. gas available is incorrect -- if it is not recoverable it is not available and not part of the supply."
The 2,933 Tcf figure is greater than the total estimated natural gas reserves for the United States. The U.S. Potential Gas Committee estimates that there is a little over 2,800 Tcf that can be extracted from shale, coal bed methane and conventional gas deposits throughout the U.S., which includes all probable, possible and speculative resources.
...
Profits, 'clean' gas questioned
The B.C. government has said that its proposed LNG industry could earn windfall profits of more than $100 billion over 30 years based on the price differential between North America and Asia for natural gas.
But the Hughes report argues that this price differential has dwindled due to oversupply and volatile global markets.
Asked how the province will make money at current low Asian gas prices, the province replied: "Exporting LNG would open British Columbia's natural gas sector to new, growing markets in Asia where commodity prices are higher. LNG proponents are looking over a 30-40 year horizon. In the long-term, natural gas is a clean energy fuel with increasing, global demand."
Hughes also argued that LNG exports to China will not decrease greenhouse emissions, but instead make them worse due to methane leaks, energy costs and waste.
Addressing that claim, the government said: "Our government promised the cleanest LNG facilities in the world, and that is exactly what we will deliver. B.C.'s greenhouse gas benchmark sets the highest standard for LNG facilities in the world. Incentives and flexible options will encourage industry to invest in energy efficiency and clean energy."
Hughes responded that delivering on such promises would incur higher costs that may make the industry economics prohibitive. Using electricity as opposed as natural gas to power liquefied gas terminals, for example, would drive up costs and make LNG terminals in B.C., already among the most expensive in the world, even more uneconomic.
ROCKMAN wrote:sparky - Here you go. Typical of the crappy MSM: they hype the sh*t out of potential US LNG exports a few years ago, get bored and doesn't keep the public informed. Thank Dog the Rockman is here to fill the gap. LOL. From 3 April 2017
"This past weekend marked some notable milestones achieved by Cheniere Energy and, by proxy, the nascent U.S. LNG export industry. Cheniere announced the departure of the 100th LNG cargo from its Sabine Pass facility on Saturday, itself a key checkbox for U.S. energy exportation.
Averaging one shipment every 4 days - Since the first shipment on February 24, 2016, Cheniere has averaged about one shipment every four days. Shipments have been accelerating, though, as 44 of these cargoes have been shipped in 2017. In total, cargoes have been delivered to 18 countries on five continents.
Cheniere exported 56 cargoes in 2016 totaling about 200 Bcf to 17 countries. The most common destination was Chile, where 9 cargoes were delivered. Latin America received more than half of all cargoes, in fact, with 27 shipments split between Chile, Mexico, Argentina, Brazil, and the Dominican Republic.
While a country-by-country breakdown is not yet available for shipments in 2017, Cheniere did describe all destinations of cargoes shipped in 2016 in its fourth quarter earnings."
More in the link if interested.
https://www.oilandgas360.com/lng-chenie ... -shipment/
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One equal temper of heroic hearts,
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