VANCOUVER | BY JULIE GORDON: 4 FEB 2016
British Columbia’s ambitions to become North America’s next major liquefied natural gas exporter took another hit on Thursday, as Royal Dutch Shell pushed back a final investment decision (FID) on its LNG Canada project to late 2016.
The delay came as Europe’s largest oil company reported its lowest annual income in over a decade and said it would take further steps to cut costs to cope with weak oil prices if needed.
LNG Canada, located on British Columbia’s rugged northern coastline, is one of the frontrunners in a now slowing race to build Canada’s first LNG export terminal. It has already been granted its key environmental permits.
A Petronas-led project, also in the province’s north, was given a conditional FID in June 2015, but an environmental review is still underway and could be further delayed by new rules requiring reviews to consider the emissions of upstream gas production.
British Columbia’s ruling Liberals, meanwhile, had been banking on having three LNG export terminals in operation by 2020, delivering new jobs in the near-term and bolstering government coffers in coming years.
Shell has in the last year scrapped numerous multi-billion dollar projects, including a controversial exploration project in the Alaskan Arctic Sea, the Bab sour gas field in Abu Dhabi and Carmon Creek oil sands project in Canada.
“We are postponing the final investment decision on LNG Canada right through the end of this year,” Chief Executive Ben van Buerden told investors on a conference call.
The LNG Canada partners – Shell, along with PetroChina Co Ltd, Korea Gas Corp and Mitsubishi Corp – had planned to take FID in the first half of 2016.
Despite the delay, the team on the ground remained upbeat, noting that early work is moving ahead and the added time will be used to further derisk the C$25 billion ($18.22 billion) to C$40 billion ($29.15 billion) development.
LNG prices are sinking as demand for the super-chilled gas slows and new supply from the United States, Australia and Russia is set to hit the market through 2021.
Despite the near-term glut, Shell executives said they anticipate demand from China and other countries to increase through the next decade.
(Reporting by Julie Gordon; Editing by Meredith Mazzilli)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
