​From the outset of the proposed $50 billion Kitimat LNG processing plant, the Canadian project was riddled with setbacks. In a 50/50 joint venture between Chevron and Australian giant Woodside Petroleum, the partners looked to build the world’s first all-electric LNG terminal in Bish Cove, BC, pinning its hopes on growing Asian markets. That was 10 years and nearly $3 billion ago. Reese Energy Consulting today is following the latest news from Kitimat LNG, which for all intents and purposes has waved a white flag. By all accounts, the project was full of grandeur and included flowing natural gas from the Liard and Horn River basins operated by Chevron and Woodside via a new 471-mile pipeline to a four-stack processing plant powered by renewable hydroelectricity to produce 18 TPA of LNG. But a witch’s brew of global industry events, i.e., depressed gas prices, faster U.S. builds and ramp ups, and recent oversupply of LNG in world markets ultimately stole Kitimat’s final breath.

What do you think? Learn more about REC and our natural gas marketing and LNG services at www.ReeseEnergyConsulting.com.

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