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[saint in exile] 10/5/2018 21:37

hxxps://youtu.be/-TAlS7J9Ofk

[la forge] 10/5/2018 18:08

Natural Gas News
Shell ‘Bullish’; on LNG Canada Project
May 10, 2018 5:00:pm

Summary

$40bn project "should be the next big global LNG investment"
by: Dale Lunan

The president and country chair of the Canadian subsidiary of Anglo-Dutch major Shell said May 9 he is “cautiously optimistic” that Shell and its joint venture partners in the $40bn LNG Canada project in Kitimat, BC will take a positive FID later this year.

Speaking to oil and gas executives and investors at the ARC Energy Investment Forum ‘Playing to Win’ in Calgary, Shell Canada's Michael Crothers pointed to the unexpected 30% increase in global LNG demand last year – most of it emanating from China – and the impact that higher demand would have on the development of new LNG projects.

“We’re quite bullish about that, and we think that this site for LNG Canada is the best site on the west coast,” he said. “We’ve got fantastic transit times – eight days to get to Tokyo Bay – and we have a fantastic resource base in our Groundbirch asset in the Montney, which is getting more and more stranded with the collapse in gas prices at AECO and the steady erosion of markets for our gas in the US.”

Projects like the 14mn metric tons/year LNG Canada export terminal, he said, are the only way to get Canadian gas to offshore markets, where there are “fantastic opportunities” to eliminate coal combustion in places like China, which would eliminate some 50mn metric tons/year of CO2 emissions.

“But the challenge we have, even with all these advantages, is the cost of building something like this in Kitimat,” Crothers reminded his audience. The location is remote, the weather conditions are challenging, and workers must be flown in and out and housed in purpose-built work camps.

“All of that is a challenge, [but] I am cautiously optimistic,” he said. “We are doing everything we can to make this a success and convince our shareholders – not only at Shell but at our JV partners as well – that this is indeed the project that should be the next big global LNG investment.”

[bountyhunter] 10/5/2018 17:32

dropped back a little today but I think we can rely on Trump to keep the price up around these levels short term at least, imho fwiw

[hectorp] 10/5/2018 15:19

Oh dear, bang goes my long position.

[hectorp] 10/5/2018 13:58

Long crude... Prichard in the telegraph today talking of possible $150 spike.
The Saudis may increase output, but they won't want the price lower than today! It would suit them to have somewhat higher price.
However the last time it rallied very hard, it then gave up $5 very fast, so there will be a trap for late entrants ( me).

[florenceorbis] 10/5/2018 12:23

FTSE falls as BP and Shell go ex-dividend
StockMarketWire.com
Weakness in the mining sector and the impact of oil majors BP (BP.) and Royal Dutch Shell (RDSB) going ex-dividend weighed on the FTSE 100.

BP retreated 2.1% to 559.9p and Shell was down 1.4% at £26.84.

Lower production and profitability at Randgold Resources (RRS) hit its shares by 8.2% to £56.

Fresnillo (FRES) and Evraz (EVR) suffered smaller falls of up to 1.8%.

The FTSE 100 declined 0.3% to 7,635.

Brent crude oil was up 0.3% at $77.44 per barrel. Copper climbed 1.2% to $3.08 per pound and gold glittered at $1,314 per ounce.

[bountyhunter] 10/5/2018 11:26

Goldman: Oil Prices To Hit $82.50 By The Summer

[bountyhunter] 10/5/2018 11:26

Goldman: Oil Prices To Hit $82.50 By The Summer

[bountyhunter] 10/5/2018 11:25

now $77.63

[bountyhunter] 09/5/2018 07:03

Brent up to $76.64 on the back of last night's news

[bountyhunter] 09/5/2018 07:02

Brent up to $76.64 on the back of last night's news