Latest news with #LNGCanada
The Star
4 hours ago
- Business
- The Star
PETRONAS ramps up LNG projects to secure long-term supply for China
BEIJING: Petroliam Nasional Bhd (Petronas) is accelerating efforts to strengthen its position as a reliable long-term liquefied natural gas (LNG) partner to China by expanding domestic gas development and its global production portfolio, aimed at ensuring consistent and sustainable energy supply for one of the world's largest LNG importers. Petronas LNG Marketing & Trading, Gas & Maritime Business vice president Shamsairi Ibrahim said the company is building a global production network to provide alternative supply sources for China's growing LNG demand. "These projects include new domestic gas fields such as Timi, Kasawari and Jerun, while continuing development of Rosmari and Marjoram to ensure long-term supply from our LNG complex,' he told Bernama in conjunction with the World Gas Conference 2025 in Beijing. Surging LNG demand in China Shamsairi said this comes as China's LNG imports surged to around 77 million tonnes in 2024, up 8.1 per cent from the previous year, driven by economic recovery and infrastructure expansion. Looking ahead, China's imports are expected to exceed 83 million tonnes in 2025, surpassing the previous record of 79 million tonnes set in 2021. He said Petronas remains committed to reinforcing its presence in China and improving supply reliability in support of China's dual energy goals, security and decarbonisation. "Currently, Petronas accounts for around 10 per cent of China's LNG imports,' he said, noting that the company exported about eight million tonnes per annum (MTPA) to China in 2024. Leveraging LNG capabilities As part of its long-term strategy, Petronas is leveraging its liquefaction capabilities at the Petronas LNG Complex in Bintulu while expanding international projects to increase supply flexibility and resilience against market and geopolitical shifts. "Internationally, we are expanding supply nodes from North America, especially with our first cargo from LNG Canada expected in mid-June 2025,' said Shamsairi. The LNG Canada project will offer Petronas more flexibility in supplying the Asia-Pacific region, including China, while optimising Pacific routes and reducing reliance on any single source. Beyond upstream and liquefaction, Petronas is enhancing its LNG shipping and delivery infrastructure to meet evolving demands, including marine, inland and off-grid applications. "We've added three new vessels to support deliveries to Shenergy's Wuhaogou terminal in Shanghai. "We're also providing an LNG Virtual Pipeline System (VPS) for the Yangtze River and introducing LNG bunkering for marine transport,' he said. Petronas is expanding its fleet with energy-efficient LNG carriers, with four currently under construction at the Hudong-Zhonghua shipyard in China. The VPS system, which uses ISO tank containers, delivers LNG to off-grid customers across Peninsular Malaysia, enabling cleaner energy access for remote areas lacking natural gas infrastructure. "We have started large-scale LNG ISO tank deliveries from Bintulu to inland China via Tiger Clean Energy,' he said. At the Bintulu complex, Petronas is upgrading infrastructure by electrifying plants and phasing out older, less efficient gas turbines. "From mid-2026, the Petronas LNG Complex will gradually be powered by green electricity, allowing us to retire inefficient turbines,' he said. Offshore, Petronas' Floating LNG (FLNG) facilities-PFLNG Satu and PFLNG Dua-demonstrate sustainable production capabilities, enabling offshore LNG output without large-scale land development. A third FLNG unit is under construction in South Korea and is expected to be commissioned in 2027, with a design capacity of 2.1 million tonnes per year. Investment in dual-fuel vessels, shipping innovation Looking ahead, Petronas also plans to invest in dual-fuel vessels and explore innovations such as liquefied CO₂ and ammonia carriers in anticipation of future energy transport demands. "With our diverse global portfolio and tailored offerings, Petronas is well-positioned to meet varying market needs across short-, medium- and long-term demand,' said Shamsairi. He advocates a balanced market strategy, combining long-term contracts for stability with short-term agreements to handle demand fluctuations, noting a gradual shift in supply terms over the years. "Despite growing demand for renewables, hydrocarbons still play a key role in meeting global energy needs, accounting for 80 per cent today and projected to provide about 30 per cent of supply even by 2050,' he said. He added that demand is driven by rapidly growing Asia-Pacific markets, where rising energy needs mean renewables alone may not meet baseload demand in the near term. - Bernama
New Straits Times
4 hours ago
- Business
- New Straits Times
Petronas ramps up LNG projects to secure long-term supply for China
BEIJING: Petroliam Nasional Bhd (Petronas) is accelerating efforts to strengthen its position as a reliable long-term liquefied natural gas (LNG) partner to China by expanding domestic gas development and its global production portfolio, aimed at ensuring consistent and sustainable energy supply for one of the world's largest LNG importers. Petronas LNG Marketing & Trading, Gas & Maritime Business vice president Shamsairi Ibrahim said the company is building a global production network to provide alternative supply sources for China's growing LNG demand. "These projects include new domestic gas fields such as Timi, Kasawari and Jerun, while continuing development of Rosmari and Marjoram to ensure long-term supply from our LNG complex," he told Bernama in conjunction with the World Gas Conference 2025 in Beijing. Surging LNG demand in China Shamsairi said this comes as China's LNG imports surged to around 77 million tonnes in 2024, up 8.1 per cent from the previous year, driven by economic recovery and infrastructure expansion. Looking ahead, China's imports are expected to exceed 83 million tonnes in 2025, surpassing the previous record of 79 million tonnes set in 2021. He said Petronas remains committed to reinforcing its presence in China and improving supply reliability in support of China's dual energy goals, security and decarbonisation. "Currently, Petronas accounts for around 10 per cent of China's LNG imports," he said, noting that the company exported about eight million tonnes per annum (MTPA) to China in 2024. Leveraging LNG capabilities As part of its long-term strategy, Petronas is leveraging its liquefaction capabilities at the Petronas LNG Complex in Bintulu while expanding international projects to increase supply flexibility and resilience against market and geopolitical shifts. "Internationally, we are expanding supply nodes from North America, especially with our first cargo from LNG Canada expected in mid-June 2025," said Shamsairi. The LNG Canada project will offer Petronas more flexibility in supplying the Asia-Pacific region, including China, while optimising Pacific routes and reducing reliance on any single source. Beyond upstream and liquefaction, Petronas is enhancing its LNG shipping and delivery infrastructure to meet evolving demands, including marine, inland and off-grid applications. "We've added three new vessels to support deliveries to Shenergy's Wuhaogou terminal in Shanghai. "We're also providing an LNG Virtual Pipeline System (VPS) for the Yangtze River and introducing LNG bunkering for marine transport," he said. Petronas is expanding its fleet with energy-efficient LNG carriers, with four currently under construction at the Hudong-Zhonghua shipyard in China. The VPS system, which uses ISO tank containers, delivers LNG to off-grid customers across Peninsular Malaysia, enabling cleaner energy access for remote areas lacking natural gas infrastructure. "We have started large-scale LNG ISO tank deliveries from Bintulu to inland China via Tiger Clean Energy," he said. At the Bintulu complex, Petronas is upgrading infrastructure by electrifying plants and phasing out older, less efficient gas turbines. "From mid-2026, the Petronas LNG Complex will gradually be powered by green electricity, allowing us to retire inefficient turbines," he said. Offshore, Petronas' Floating LNG (FLNG) facilities—PFLNG Satu and PFLNG Dua—demonstrate sustainable production capabilities, enabling offshore LNG output without large-scale land development. A third FLNG unit is under construction in South Korea and is expected to be commissioned in 2027, with a design capacity of 2.1 million tonnes per year. Investment in dual-fuel vessels, shipping innovation Looking ahead, Petronas also plans to invest in dual-fuel vessels and explore innovations such as liquefied CO₂ and ammonia carriers in anticipation of future energy transport demands. "With our diverse global portfolio and tailored offerings, Petronas is well-positioned to meet varying market needs across short-, medium- and long-term demand," said Shamsairi. He advocates a balanced market strategy, combining long-term contracts for stability with short-term agreements to handle demand fluctuations, noting a gradual shift in supply terms over the years. "Despite growing demand for renewables, hydrocarbons still play a key role in meeting global energy needs, accounting for 80 per cent today and projected to provide about 30 per cent of supply even by 2050," he said. He added that demand is driven by rapidly growing Asia-Pacific markets, where rising energy needs mean renewables alone may not meet baseload demand in the near term.
Calgary Herald
3 days ago
- Business
- Calgary Herald
Opinion: PM Carney wants Canada to be an energy superpower - here's how he can prove it
Article content Prime Minister Mark Carney says he wants Canada to become an energy superpower. That's the right goal, and now that he's in charge, it's time to back up his lofty words with real action – here's how he can prove it. Article content Article content Canadian liquefied natural gas (LNG) is one of the most significant opportunities for Canada to grow its economy and create good, mortgage-paying jobs for Canadians. Several projects are awaiting final approval: Phase 2 of the LNG Canada project, Ksi Lisims LNG, and Woodfibre are just some examples. Getting these projects approved and built quickly would show authentic leadership. Article content Article content Article content Pipelines are key to moving natural gas and oil safely across Canada, but the Liberal Party's 2025 election platform doesn't even mention them. Canada has some of the world's largest natural gas and oil reserves. Without this enabling infrastructure, our reserves are just another wasted Canadian opportunity, and our aspiration of becoming an energy superpower is just another political platitude. Article content Prime Minister Carney has said he supports the energy sector. Still, he remains frustratingly unclear about whether he considers pipelines one of his 'nation-building projects'. Carney said he is looking for an international consensus on pipelines. Minister Guilbeault recently threw cold water on the idea of any new projects. Getting consensus from the provinces will be hard if he cannot even find it within his cabinet. This is the kind of uncertainty that makes investors nervous. The prime minister must give a clear message: Canada supports responsible natural gas and oil development. Article content Article content Scrap the cap Article content The proposed cap on Canada's natural gas and oil industry must be scrapped immediately. Third-party experts, including Canada's parliamentary budget officer, have provided overwhelming evidence that this policy will limit production in the industry. Only the federal government – and activists – continue to declare the opposite. They're wrong, and keeping this cap will send a damaging signal to investors who are already hesitant about investing in Canada. Article content Carney has promised to get major projects approved in under two years. But C-69, the 'no more pipelines' bill, has made getting energy projects approved nearly impossible. Ten years to a no is not a process – it's paralysis.
Canada Standard
20-05-2025
- Business
- Canada Standard
B.C.'s LNG Drive Weakens Climate Rules, Pushes Up Local Gas Prices, New Report Warns
Although Donald Trump's trade wars have created a moment of opportunity for liquefied natural gas (LNG) exports to Asia, British Columbia is paying the price in the form of weakened climate regulations, higher gas prices, an overstretched electricity system, and future economic uncertainty, a new report warns. "For the past 15 years, the development of a liquefied natural gas (LNG) industry has been a dream of B.C. politicians who have envisioned the streets of the province's economic future paved with the gold of gas exports," the Canadian Centre for Policy Alternatives (CCPA) writes. And when the new LNG Canada facility in Kitimat ships its first cargo overseas, the moment will be "fortuitous" for the province and Canada as a whole. "LNG Canada connects gas from Western Canada-where prices are low and dependence on the U.S. high-to world market prices, largely in Asia," the report explains. "The U.S. LNG industry, meanwhile, has been slapped with tariffs by China, a key export destination for LNG Canada, as part of the broader trade war." So in addition to two smaller LNG terminals, Woodfibre LNG and Cedar LNG, that are both in development, and a final investment decision pending on the second phase of the LNG Canada project, the trade war has both orders of government "courting additional LNG developments, and betting on their multi-billion-dollar investments to further boost Canada's export capacity to Asia." However, "whether LNG can deliver on its promise is questionable, in light of the challenging economics of the industry-including other new LNG facilities under development-and due to the global energy transition away from fossil fuels." View our latest digests The report details six major concerns with LNG development: B.C. is weakening its already failed climate targets to make room for LNG, handing developers a two-year exemption from its industrial carbon tax that will save them tens of millions of dollars per year if it becomes permanent. "Ostensibly part of the government's response to the Trump tariffs, B.C. is fast-tracking LNG and related infrastructure projects, and is relaxing its previous requirement that LNG facilities have a plan to be net zero emissions by 2030," CCPA writes. Powering the industry's "extremely energy intensive" LNG facilities will push the provincial grid to its limits. If the plants run on gas, they'll drive up emissions. If they're electrified, the utility will have to build new generation and transmission that would otherwise be available to support B.C.'s decarbonization efforts. LNG producers won't commit to electrification without "substantial subsidies", with the result that "other residential and business customers will see their electricity bills go up". LNG production in B.C. will drive up consumer prices by 25% this year compared to 2024, and by 49% in 2026, although those higher costs will initially be offset by the elimination of the consumer carbon price. With the International Energy Agency and other agencies projecting that global gas demand is approaching its peak, LNG economics in B.C. will be "challenging due to vagaries of global markets and the high cost of liquefaction and gas pipelines." All of these problems will worsen as more LNG production comes onstream. "The danger is that the B.C. government abandons its climate policies for the LNG sector, including electrification and carbon pricing, and instead opts for higher GHG emissions and sacrificing its long-run GHG emission reduction targets," the report concludes. "Doubling down on fossil fuel exports at a time of climate emergency is folly and is also costly from a bottom-line perspective." Report author and CCPA Senior Economist Marc Lee traced B.C.'s cross-party commitment to LNG development back to the former provincial Liberal government of then-premier Christy Clark, and to Clark's taunt that the opposition NDP was "the party of no" on resource development, from LNG to the controversial Site C hydropower megaproject. "I think that really stung . So they made a decision that they weren't going to pick a fight with big industry, particularly the oil and gas industry," Lee told The Energy Mix. Instead, "they wrapped themselves in the aura of northern economic development, supporting the resource industry, trying to link Indigenous rights and issues into that conversation, and not really taking climate all that seriously." For successive NDP governments in B.C., "the politics is more about now, about jobs and labour supporters and economic development, then on the climate stuff we can tinker a little bit here and there," he said. "Not that they don't care, but my sense is that if no one else is doing this, they're asking why B.C. should be ahead of the rest of the pack." Those discussions make British Columbia "a microcosm of every cabinet table around the world in countries that have fossil fuel reserves," he added. The risk is that if a wealthy jurisdiction like B.C. doesn't lead, no one else will. But by seizing that lead, the province would be "doing ourselves a favour by developing capabilities and competencies and technologies that have value in other parts of the world, that position our province to be leaders in the economy of the future." Source: The Energy Mix
Globe and Mail
14-05-2025
- Business
- Globe and Mail
Letters to the editor, May 14: ‘If we do not have a focused cabinet … results will likely mirror the last 10 years – and that we cannot afford'
Re 'With a new cabinet in place, it's on to the business of governing' (May 13): I must admit I did not vote for the Prime Minister's party, but I am somewhat relieved he got the job. Now that he has announced his new cabinet, I hope he has a chance to read this opinion with his morning coffee. The prescriptions for how to govern are exactly how I hope the new government chooses to execute in this time of stress. Governments have only so much bandwidth. If we do not have a focused cabinet and agenda with the power to deliver, results will likely mirror the last 10 years – and that we cannot afford. Give cabinet the power to utilize the levers they have and hold them accountable. Mistakes will be made, but as the old saw goes, 'If you are not making mistakes, you are not trying hard enough.' Stew Valcour Halifax Re 'Poilievre staying in Stornoway pending by-election' (Online, May 12): I find it completely inappropriate that Pierre Poilievre is staying rent-free in Stornoway when he was voted out of office. If this is indeed a 'transition phase,' he can hand over market rent for the period he is not an elected official. This taxpayer is not interested in subsidizing his free ride. Susan Watson Guelph, Ont. Re 'As the U.S. trade war escalates, LNG Canada is poised to start exports to Asia' (Report on Business, May 10): All of the structural steel used in LNG Canada's new terminal came from China. That steel could, and should, have been sourced from Canadian steel mills that employ Canadian steelworkers. But LNG Canada, a consortium of Chinese, British, Japanese, Malaysian and South Korean interests, seems to have no interest in using Canadian steel. It wanted Chinese steel, and the federal government was happy to oblige. While it has become fashionable for our business and political leaders to wrap themselves in the Canadian flag in response to the threats from the United States, these same people have mostly failed to protect our national economic interests for the last 40 years. I see the LNG Canada project as merely the latest example of this failure. Mark Rowlinson Toronto Re 'Trust the numbers' (Letters, May 12): A letter-writer who works for a health-data organization is highly critical of health-data companies selling access to patient records. He therefore recommends that 'the use of health data for targeted marketing without patient consent should be prohibited.' In Ontario, it is already prohibited. Under the Personal Health Information Protection Act, Section 33 states that a health care provider cannot use or disclose an individual's personal health information 'for the purpose of marketing anything or for the purpose of market research unless the individual expressly consents,' and the provider must comply with all requirements and restrictions set out in the act. Lise Hendlisz BCL, LLB; Toronto Re 'Ontario hospitals spent more than $9-billion on agency staff over 10 years, study finds' (Online, May 12): The elephant in the room regarding soaring private nursing and allied hospital workers' utilization is chronic staffing shortages amid rising patient treatment demand. As a retired job evaluation specialist for Canada's largest union, I know hallway health care is the unintended consequence of shortchanging regular employees on pay and benefits. Those of us who have been at the negotiating table pointing out the farce of paying for-profit agencies up to three times regular staff rates to fill shifts share the experts' finding that this devil's bargain is 'poor value for money.' Let's stop this preventable predicament before it entirely undermines medicare. Tom Baker Burlington, Ont. Re 'Is in-depth and expensive blood work worth it?' (May 12): A read of this article suggests yet another reason that no one wants to practise family medicine any more. Imagine the tricky position in which a doctor is placed when faced with a patient who has ordered their own battery of blood tests, then arrives at the doctor's office waving the results and demanding an explanation. Many things seem to have been turned upside down in our modern era, but one principle which remains fundamental to good medical practice is the order in which a patient's problems are assessed: that of receiving the history, performing a physical examination and only then performing such ancillary lab tests as may be indicated by the first two steps in the assessment. Physicians and nurse practitioners who participate in a process in which lab tests are performed first, without the requisite history and physical exam, are frankly being unprofessional. Alban Goddard Hill MD (retired); Windsor, Ont. Re 'Eat it up' (Letters, May 12): A letter-writer notes the incongruity of increased life expectancy with the rise in consumption and reported deleterious effects of ultraprocessed foods. The answer is that the cited statistic is life expectancy from birth, which is primarily a measure of neonatal and maternal care. Think of a young 19th-century mom giving birth to six children, of which only three lived beyond 12 months. Even if these siblings lived to 100, life expectancy from birth would only be about 50 years. Perhaps a better statistic to measure the effect of diet is life expectancy from age 40. This has continued to rise through the decades, though not as pronounced as from birth. Even still, teasing out the effects of decreased war and violence, social policies reducing poverty, increased access to health care, environmental engineering and medical advances may cloud the analysis. Oh, and good luck with that Leafs' playoff run. Stephen Halman MDCM, FRCSC; Toronto Re 'Leafs, Panthers return to Toronto battered, bruised and even in series' (Sports, May 13): For 57 years, the Toronto Maple Leafs have been chasing the Stanley Cup. Every season, we blame someone else: players, coaches, referees, management. But we never look in the mirror. I believe Leafs fans have become part of the problem. We celebrate our players when they're flying high. But the moment they struggle, we turn on them. It's a toxic cycle, and it creates crushing pressure. That pressure seems to show up when it matters most. Since 2018, the Leafs are 1–13 in games where they could eliminate an opponent. That's not just bad bounces, that's the weight of a fan base. But this is not the same Leafs team any more. This group is different. They're learning, evolving and pushing through adversity. If they're changing, maybe it's time we do, too. If we want different results, we should be a different kind of fan base. Geoff Hilhorst Banff, Alta. Letters to the Editor should be exclusive to The Globe and Mail. Include your name, address and daytime phone number. Keep letters to 150 words or fewer. Letters may be edited for length and clarity. To submit a letter by e-mail, click here: letters@
