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Even Exxon wants in on the party

June 22, 2013

The race to build west coast LNG capability added yet another player—Exxon Mobil Corp. By last count there are 7 proposals in the works for LNG exports from Kitimat/Prince Rupert BC.

Exxon and Imperial Oil Ltd. (ticker IMO on TSX), Exxon’s Canadian subsidiary, filed an application with the National Energy Board to export 30 M tonnes of LNG from Prince Rupert/Kitimat. Exxon noted that the export license is not a project proposal rather a precursor to developing a proposal.

The other projects are:

 

Commentary

The LNG party is on and Exxon-Mobil wants to join in on the good times. The overall pattern is apparent LNG exports through northern BC. BC has lots of natural gas and Asian markets beckon. The new Liberal Government in BC had made LNG exports a prominent part of its re-election campaign. BC has formed a new ministry and added a Minister of Natural Gas Development.

Sources