Connect with us

Headlines

For now, optimism is hard to find in Western Canada’s natural gas business

Published

on

[ad_1]

Shell Canada made one of the biggest moves of 2018 in the natural gas industry by deciding to move ahead with a $40 billion liquefied natural gas export facility on B.C.’s coast.

Construction is underway, but patience is needed since it will take five years to construct. Until then, the industry seems stuck with low prices, a lack of spare export pipeline space, and stagnant demand.

Shell leads the consortium behind LNG Canada, the planned export facility in B.C. 

“The mood is definitely one of excitement [about LNG],” said Rej Tetreault, general manager of natural gas projects for Shell Canada. “It’s a bit muted because the current market is very low and that’s curtailing our own short term activities.”

Tetreault overseas the Groundbirch​ natural gas operation near Fort St. John, in northeast B.C. The company has 500 wells in the area that produce natural gas. Even though Shell is spending billions of dollars to construct the LNG terminal, in the interim, the company is limiting costs on producing natural gas.

Over the next two years, no new wells will be drilled. As a result, production will drop by about 15 per cent because of natural declines.

“We don’t plan on being active in the next couple of years because we don’t feel the need to be active,” said Tetreault.

The planned liquified natural gas export facility in B.C. by LNG Canada, one of the largest industrial projects ever undertaken in Canada, is a joint venture between Shell, PetroChina, KOGAS and Mitsubishi Corporation. (Photo courtesy of LNG Canada)

For much of the past year, prices in Alberta have been less than two dollars per million British Thermal Units. In 2014, prices were over five dollars.

“It’s still a big challenge out there [for natural gas producers],” said Martin King, a commodities analyst with GMP FirstEnergy. “I think they’re kind of hanging on with their fingernails.”

Similar to the oil industry, there is a backlog of natural gas in Western Canada because of export pipeline constraints. For those companies able to ship their gas to the U.S., they are receiving more than twice the price than in Alberta.

While the industry waits for the LNG plant to be built, King said companies have to “batten down the hatches.”

Natural gas prices have trended down since 2008.

Mainly through technological innovation, companies have been able to slash costs considerably in recent years. Shell, for instance, said it has cut expenses at its natural gas operations by 40 per cent over the last five years, while also reducing greenhouse gas emissions by 25 per cent since 2015.

Tourmaline Oil has frozen its natural gas production at 2017 levels and has tried to diversify its transportation options to sell into several different markets in North America. Still, a lack of pipelines is hurting both its oil and gas divisions.

“It’s the most challenging time that I’ve ever seen in the Canadian oil and gas sector by a long shot,” said Mike Rose, the company’s CEO. “I personally spend a lot of time with the staff trying to keep everybody happy.”

[ad_2]

Source link

قالب وردپرس

Headlines

List of Tourist Attractions Open Now in Ottawa

Published

on

By

With Ontario now in Step 3 of 2021 three-step plan for reopening, museums and other indoor attractions are allowed to reopen with capacity limited to not exceed 50 per cent capacity indoors and 75 per cent capacity outdoors.

Here is a list of Ottawa attractions you can visit starting July 16th.

Do remember to wear masks and buy tickets in advance.

Parliament Hill

Parliament’s Centre Block and Peace Tower are closed for renovation.

You can join for tours of the Senate of Canada Building (2 Rideau Street), House of Commons at West Block (111 Wellington Street) on Parliament Hill, and East Block at East Block (111 Wellington Street) on Parliament Hill.

When: Grounds open; guided tours of Parliament are suspended through the summer of 2021.
Where: 111 Wellington Street, Downtown Ottawa

Continue Reading

Headlines

Ottawa performer leapfrogs from gymnastics to Broadway to TV

Published

on

By

A new AppleTV+ series set in a magical town that’s stuck in a neverending 1940s musical includes a pair of Ottawa siblings in the cast. 

Warren Yang and his sister, Ericka Hunter, play two of the singing, dancing residents of the village portrayed in Schmigadoon!, a small-screen series that takes its cues from classic musicals like Brigadoon, Wizard of Oz and Sound of Music, and skewers them with the offbeat comedic mastery of Saturday Night Live. 

In fact, you’ll recognize many of the names from SNL, starting with executive producer Lorne Michaels, creator of the late-night, live-comedy sketch show. Schmigadoon! also stars SNL cast member Cecily Strong and comedian Keegan-Michael Key, who hosted SNL in May. They play a New York couple who get lost on a hike and stumble into a strange town where everyone sings and dances. 

For Yang, a relative newcomer to show-biz, the series marks his television debut. For Hunter, the younger of his two older sisters, it’s the latest in a career path that began with dance lessons as a child more than 30 years ago. She attended Canterbury High School, Ottawa’s arts-focused secondary school. 

“Her dream was always to perform,” said Yang, 34, in an interview. “But that was never the path I thought was an option for me.” 

While his sister studied dance, Yang did gymnastics. He was an elite gymnast throughout his youth, ultimately leaving Merivale High School at 16 to train in Montreal, finishing high school through correspondence courses. He was a member of the Canadian National Team and received a scholarship to study at Penn State, majoring in marketing. 

A few years after graduation, Yang was working at an advertising agency in Toronto when he got a call from a Manhattan number. To his astonishment, they asked if he would be interested in auditioning for a Broadway revival of Miss Saigon.

Continue Reading

Headlines

COVID-19: uOttawa to require vaccination for students living in residence

Published

on

By

Vaccination will be mandatory for students who want to live in residence at the University of Ottawa this year, with proof of vaccination and at least one dose required before move-in, or within two weeks of doing so if they can’t secure a shot before arriving.

Those who can’t receive a vaccine for “health-related reasons or other grounds protected under the Ontario Human Rights Code” will be able to submit a request for accommodation through the university’s housing portal, according to information on the university’s website.

Students with one dose living in residence will also have to receive their second dose “within the timeframe recommended by Ottawa Public Health.”

People who haven’t been granted an exemption and don’t get vaccinated or submit proof of having done so by the deadlines set out by the school will have their residence agreements terminated, uOttawa warns.

“Medical and health professionals are clear that vaccination is the most (effective) means of protecting people and those around them,” reads a statement provided to this newspaper by uOttawa’s director of strategic communications, Patrick Charette.

Article content

“It is precisely for this reason that the University of Ottawa is requiring all students living in residence for the 2021-2022 academic year to be fully vaccinated. The University recognizes that some students may require accommodations for a variety of reasons and will be treating exceptions appropriately.”

Faculty, staff and students are also strongly encouraged to get vaccinated, the statement notes.

“Ensuring a high vaccine coverage in all communities is critical to ensuring an ongoing decline in cases and ending the pandemic. This will be especially important with the return of students to post-secondary institutions in our region in the fall of 2021.”

Neither Carleton University nor Algonquin College is currently mandating vaccination for students living in residence, according to the websites for both schools. But uOttawa isn’t alone in its policy – Western University, Trent University, Durham College and Fanshawe College have all implemented similar requirements. Seneca College, in the GTA, is going even further, making vaccination mandatory for students and staff to come to campus, in-person, for the fall term.

Continue Reading

Chat

Trending