BC Minister: Sinopec in Talks on Canada Site for LNG Project

Reuters

VANCOUVER, Nov 19 (Reuters) - China's Sinopec Corp is in serious talks on a site for a potential liquefied natural gas (LNG) export terminal in British Columbia, the province's Minister of Natural Gas Development said on Tuesday.

Rich Coleman, in a conference call with reporters, said the Chinese company had explored numerous sites in the province and had also entered partnership discussions with another company.

"All we know at this point in time is they've entered discussions on a site with another partner," said Coleman. "We don't have the details of those discussions. We just know they are here seriously looking for an opportunity."

Coleman declined to name the partner or identify sites where the parties were looking. Sinopec owns significant natural gas properties in two of Canada's most prominent shale-gas fields that, once developed, could feed into Pacific Coast LNG plants.

A Sinopec spokesperson based in Beijing was not immediately available for comment.

Asia's largest refiner joins a growing list of major global energy players, including Royal Dutch Shell PLC, Chevron Corp and Petronas, all racing to build the facilities to ship cheap Canadian gas to Asian markets.

Coleman also noted that talks with companies on the province's new natural gas export tax would continue for about month longer than previous expected, though he expects to have the details of the tax nailed down by year end.

Copyright 2017 Thomson Reuters. Click for Restrictions.

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