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British Columbia nears land deal for proposed Sinopec LNG exports

10.22.2013  | 

The British Columbia government is close to completing an accord for land needed by China Petrochemical Corp. for a proposed liquefied natural gas export project in Canada’s westernmost province.

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By REBECCA PENTY

KUALA LUMPUR (Bloomberg) -- The British Columbia government is close to completing an accord for land needed by China Petrochemical Corp. for a proposed liquefied natural gas export project in Canada’s westernmost province.

Sinopec Group is interested in sourcing Canadian LNG supplies to help meet a near-term import target of about 30 MMmtpy, Rich Coleman, British Columbia’s Minister of Natural Gas Development, said on a call from Kuala Lumpur.

Coleman met with Sinopec executives during an eight-day trip that ended today to promote the province’s LNG industry, he told reporters.

“Sinopec wants to be an early mover and we will shortly be in a position to finalize the arrangements with them with regards to their land needs in British Columbia,” Coleman said of Sinopec. He declined to provide details and said there may be LNG announcements from the government in the next couple of weeks.

Royal Dutch Shell, Chevron, BG Group and Cnooc are among international energy companies proposing or considering LNG export projects in western Canada, including pipelines across British Columbia’s mountains to link gas supplies in shale formations to Pacific Coast facilities.

Four proposed terminals are targeted to start operations before 2020, including three for which the Canadian government has already awarded export licenses. The British Columbia government has sought expressions of interest from LNG proponents to develop projects on some land it owns.



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