CALGARY, A.B. — The president of Shell Canada said he’s “cautiously optimistic” that Shell and its partners in LNG Canada will make a positive Final Investment Decision later this year.
According to Natural Gas World, Shell Canada president Michael Crothers made the statement at the ARC Energy Investment Forum ‘Playing to Win’ in Calgary on May 9th. Speaking to executives and investors in the oil and gas industry, Crothers pointed out that there has been an unexpected increase in global demand for LNG in the past year. He said the 30 percent increase in demand has largely come from China, and also spoke about the impact 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,” said Corthers. “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.”
Crothers added that projects like LNG Canada are the only way to get Canadian gas to offshore markets, where there are “fantastic opportunities” to reduce greenhouse gas emissions by replacing the use of coal with natural gas.
Story courtesy Natural Gas World: https://www.naturalgasworld.com/shell-cda-head-bullish-on-lng-canada-project-61089