Key Projects and Business Highlights 2014
On the Western Canada, the Provinces of British Columbia (B.C.) and Alberta have decided to favor all the investments to develop the unconventional gas resources in addition to the well known bitumen.
In the gas race to supply thirsty East Asia countries, Canada identified the opportunity to take the lead because of the quantities of its resources in unconventional oil and gas and because of its geographical location just across the North Pacific Ocean.
In a context where Russia is struggling with multiple challenges, East Coast Africa countries are wondering how to publish oil and gas new regulations, Australia is fighting with its spiraling costs, USA balancing pros and cons to export its shale gas, Canada is running full speed announcing every month new projects to pipe oil and gas to east and west and to build the largest complex of liquefied natural gas (LNG) trains along its west coast.
Involving Apache, Chevron, Enbridge, ExxonMobil, PetroChina, Petronas, Shell, TransCanada, Woodside and many other companies, Canada should be again one of the most active country in the oil and gas sector in the coming years.
Registered in Vancouver, British Columbia (B.C.), the newly established company Steelhead LNG Corporation (Steelhead LNG) signed with the Huu-ay-aht First Nations (HFN) an Opportunity Development Agreement to jointly design and build a liquefied natural gas (LNG) project on the Sarita Bay on the west coast of Vancouver Island in British Columbia, Canada.
The Calgary-based midstream company Enbridge Inc. (Enbridge) received the formal approval from the Canadian Government to proceed with the as sensitive as strategic Northern Gateway Pipeline project to unlock Alberta bitumen reserves toward Asia export throughout British Columbia in western Canada.
The Royal Dutch Shell (Shell), and its partners, China National Petroleum Corporation (CNPC or PetroChina), Koreas gas Corporation (Kogas) and Mitsubishi Corporation (Mitsubishi) from Japan established a joint venture to design, built and operate the LNG Canada project to produce and export liquefied natural gas (LNG) out of Kitimat in British Columbia, on the West Coast of Canada.
The Australian company Woodside Petroleum (Woodside) and the Government of British Columbia (BC) signed an agreement to open a greenfield liquefied natural gas (LNG) plant at Grassy Point along the west coast of Canada. This Grassy Point project comes at the end of a list of more than ten LNG projects already announced in British Columbia.