On May 15, Vancouver, Canada, China National Petroleum Corporation, Shell Canada Ltd., Korea Natural Gas Corporation and Japan’s Mitsubishi Corporation announced that they will jointly develop the export of liquefied natural gas (LNG) to build plants in Ketimate, British Columbia, Canada. Project (referred to as "Canada LNG Project"). The natural gas produced by the project will be dominated by Asia. After passing government approval and investment decisions, the project will enter the development phase around 2015 and will be officially launched before 2020. According to reports, Shell Canada Limited has a 40% interest in the project, and South Korea Natural Gas Corporation, Japan's Mitsubishi Corporation and China National Petroleum Corporation each have a 20% interest. As a clean fossil energy source, LNG's demand in Asia and other markets has remained at a high level. The Canadian LNG project brings together four companies' extensive development experience, high-level technical strength, strong financial capabilities and broad market space, which provides a guarantee for the project's dominant position in Canada's LNG field and will also provide new opportunities for the global natural gas market. Resources. The project includes natural gas liquefaction plants, LNG storage, export facilities, offshore loading and unloading, shipping design, construction and operations. The first phase of the project consists of two liquefied natural gas processing units, each with a treatment capacity of 6 million tons/year. In the future, it may be planned to expand to 4 units and the processing capacity will reach 24 million tons/year. At present, consultations on the project between the four companies and the indigenous people and community residents in the project site have started simultaneously. The United States was once one of the major energy sources in Canada, but due to the massive exploitation of shale gas in the United States, the price of natural gas has dropped drastically. Canada's exports of U.S. natural gas are not excessively profitable. This year, the lowest price of U.S. natural gas has been at US$ 2 per million. British thermal units, for which many energy companies in Canada have always wanted to open up the Asian market to get rid of dependence on the US market. According to relevant sources of China National Petroleum Corporation, the natural gas purchased by this project is mainly concentrated in the Canadian West Basin. Located in western Canada near the Pacific Ocean, Kitimat is one of Canada’s important ports for Asia. This project will bring huge economic benefits to local residents, communities, regions, and even British Columbia, and thousands of jobs will be created during the construction period. There will be hundreds of long-term full-time jobs during the operation period, which will promote local economic development.
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