Latest news with #GaslogGlasgow
New York Times
07-07-2025
- Business
- New York Times
Looking Beyond the U.S. for Trade, Canada Begins Shipping Natural Gas to Asia
The voyage of a tanker loaded with liquefied natural gas and headed to South Korea from British Columbia is a pivotal moment in Canadian trade, the government says. It is the first natural gas shipment from a major Canadian plant to Asia as Canada looks to diversify its export markets in the aftermath of President Trump's trade war and annexation threats. The shipment on the Gaslog Glasgow comes a decade after a gas line project in Kitimat, British Columbia, was approved. Prime Minister Mark Carney has trumpeted the project, LNG Canada, whose plant, pipeline, gas fields, docks and other assets are worth 48 billion Canadian dollars (about $35 billion). 'Canada has what the world needs,' Mr. Carney said the day the tanker set off last week. 'By turning aspiration into action, Canada can become the world's leading energy superpower.' The Canadian gas shipment to Asia comes amid domestic tensions over energy production. Alberta, an oil-rich but landlocked province, is demanding more ports and the ability to run more pipelines through British Columbia to further globalize its own oil and gas market. But it's meeting resistance from British Columbians who don't relish more tanker traffic along their coastline or pipelines over their mountains. Environmental groups argue that exporting natural gas is incompatible with Canada's commitments to fight climate change. And many Indigenous people are contesting a new federal law to accelerate the approval of pipelines on their lands. A vast majority of Canada's oil and gas flow south. It sold about $6 billion worth of natural gas to the United States last year. But increased U.S. gas production has led to a decline in Canadian exports since 2010. And in the past 10 years, the United States has become the largest supplier of liquefied gas in the world. Want all of The Times? Subscribe.
Edmonton Journal
01-07-2025
- Business
- Edmonton Journal
Shell-Led LNG Canada Ships First Cargo to Meet Asian Demand
Article content (Bloomberg) — Shell Plc has started exports from Canada's first liquefied natural gas project, helping to meet rising Asian demand and extending its position in the global LNG market. The first cargo from the plant in British Columbia was loaded on the vessel Gaslog Glasgow. Operator LNG Canada Development Inc. said on Monday that the ship is destined for 'global markets.' Shell owns 40% of the project.
Time of India
01-07-2025
- Business
- Time of India
Canada ships first LNG export cargo from Pacific coast
Canada's first-ever LNG export cargo has been shipped from the country's Pacific Coast en route to Asia, a spokesperson for the Shell-led LNG Canada said on Monday. The cargo was loaded onto the tanker Gaslog Glasgow from LNG Canada's site in Kitimat, British Columbia, just over a week after the facility confirmed first production and became the first large-scale commercial LNG operation in the country. LNG Canada is the first major LNG facility in North America with direct access to the Pacific Coast. It starts at a time when trade tensions with the United States have heightened Canada's desire to diversify its export markets. "This is something Canada really needs right now," LNG Canada CEO Chris Cooper said in an interview, pointing to those trade tensions. The LNG Canada project, which is a joint venture between Shell Plc , Petronas, PetroChina, Mitsubishi Corp and Kogas, cost approximately CDN$40 billion (US$29.4 billion) to construct and has been billed as the largest private-sector investment in Canadian history. When fully ramped up, it will have the capacity to export 14 million metric tonnes of LNG per year. Shell and its partners are working towards reaching a final investment decision next year for doubling the project's capacity, the chief of Shell's gas business Cedric Cremers told Reuters. Canada is the world's fifth-largest producer and fourth-largest exporter of natural gas, but until now virtually all of those exports have gone to the United States. LNG Canada offers the country's natural gas producers access to energy-hungry Asian markets for the first time. Its Pacific coast location offers a direct shipping route to Asia without needing to transit the Panama Canal, something project partners hope will give Canadian LNG an advantage against US competitors whose facilities are located on the other side of the continent along the Gulf coast. LNG Canada also has a supply cost advantage. Prices for Canadian natural gas — which will be shipped to LNG Canada from the shale fields of northeast British Columbia via the Coastal Gaslink pipeline — currently trade at less than half the price of the US Henry Hub benchmark. "West coast LNG in Canada competes exceptionally well against anything being developed in the United States," Petronas Canada CEO Mark Fitzgerald said at a conference in Calgary in June. The startup of LNG Canada — which was first proposed in 2012 — comes almost 10 years after the United States first began exporting LNG from the lower 48 states. The United States has since become the world's largest LNG exporter, leaving many in Canada's energy sector to say that their country has been too slow to develop its own industry. But Canada has additional LNG projects waiting in the wings. Two smaller Pacific coast LNG facilities — the Cedar LNG and Woodfibre LNG projects — are currently under construction, and LNG Canada itself is considering a second-phase expansion of the project, which would double the facility's capacity. While Canadian LNG does have certain beneficial cost elements, it also has negatives, said RJ Johnston, incoming director of energy and natural resource policy at the University of Calgary's School of Public Policy. Constructing new Canadian LNG facilities and pipelines along British Columbia's remote northern coast is more challenging and expensive than along the US Gulf, where the infrastructure to serve the LNG sector is already developed, he said. Ed Kallio, executive advisor for data analytics and forecasting firm Incorrys, said the business case for expanding Canada's LNG production is weakened by greenhouse gas regulations that US producers don't face. "The major risk for future LNG development in Canada is the price risk for (clean) electricity to power these processes," he said.
Business Times
01-07-2025
- Business
- Business Times
Shell-led LNG Canada ships first cargo to meet Asian demand
[LONDON] Shell has started exports from Canada's first liquefied natural gas (LNG) project, helping to meet rising Asian demand and extending its position in the global LNG market. The first cargo from the plant in British Columbia was loaded on the vessel Gaslog Glasgow. Operator LNG Canada Development said on Monday (Jun 30) that the ship is destined for 'global markets'. Shell owns 40 per cent of the project. LNG Canada is ramping up at a time when demand for gas is on the rise and buyers are focused on trading routes that avoid geopolitical flashpoints, particularly around the Persian Gulf. The plant at Kitimat on Canada's west coast is relatively close to customers in East Asia and comes on stream ahead of new export plants in the US and Qatar, which will not add substantial supplies to the market until next year at the earliest. 'We very much see it as a very strategic location on the Pacific coast,' Cederic Cremers, Shell's president of integrated gas, said. It 'connects very cost-competitive upstream gas from British Columbia to growing Asian demand,' he said. A second production unit, known as a train, will start up later this year, and the 14 million-ton-a-year facility will reach full capacity in 2026, Cremers said. Once both trains are online, Canada would rank eighth in global LNG exports, behind Nigeria, data compiled by Bloomberg shows. A further expansion is under discussion between Shell and its partners – Petroliam Nasional, PetroChina, Mitsubishi and Korea Gas – with a final investment decision likely next year, Cremers said. Shell expects global LNG demand to grow 60 per cent by 2040, led by Asia. The company is a shareholder in plants around the world, including in Qatar and Australia, has a massive trading operation and operates a shipping network that manages about 10 per cent of the global LNG fleet. The firm's LNG sales reached 66 million tonnes last year and are set to rise 4 to 5 per cent annually until the end of the decade, Cremers said. Between now and then, Shell expects to add 12 million tonnes a year of LNG capacity. BLOOMBERG
Nikkei Asia
01-07-2025
- Business
- Nikkei Asia
Canada makes first ever LNG shipment, buoying Asia's energy security
Energy Asian giants Petronas, PetroChina, Mitsubishi and Kogas own 60% of $14bn project The liquefied natural gas tanker Gaslog Glasgow at dock in western Canada's Kitimat on June 28. © Reuters SHOTARO TANI TOKYO -- Canada has shipped its first ever cargo of liquefied natural gas, unleashing a source of the super-chilled fuel that could boost Asia's energy security in the face of tight global supply. The cargo left LNG Canada's facility in the western province of British Columbia Tuesday morning Asia time. It was loaded on the vessel Gaslog Glasgow chartered by oil major Shell, according to ship tracking information from Kpler, a commodity data firm.
