Phase 1 on track to ship LNG by mid-decade, phase 2 still up in the air
Western Canada has an abundance of natural gas, and Europe, especially Germany, could really use some right now.
During a media site tour in Kitimat Wednesday, LNG Canada CEO Jason Klein provided a progress update on the $40-billion project, and fielded questions from reporters. The total budget for the LNG Canada project has been estimated at $40 billion, including the terminal in Kitimat, CGL and upstream natural gas assets. The cost of the terminal project in Kitimat has been widely reported to be $17 billion to $18 billion – a figure LNG Canada has never confirmed or corrected."The pipeline has had almost a 100% cost overrun," Klein said. "That's not our experience here.
A total of 5,500 workers are currently employed at the site. Only 1% of the workforce are from outside of Canada, LNG Canada officials said. Some of the modules are monstrous processors, eight- to 10-storeys high, which remove impurities from natural gas before it can be chilled to minus 160 degrees Celsius to turn it into liquid. It takes several of these massive processing modules for each "train." Phase 1 calls for two trains.
What’s being built now is a two-train project with an annual production and export capacity of 14 million tonnes of LNG per year. But the project from the outset was designed to go to four trains. Compared to other LNG producers, the LNG Canada project is expected to produce some of the lowest-carbon LNG in the world, partly due to the electrification of upstream natural gas production in northeastern B.C.
The power demand of the LNG Canada terminal is already 600 megawatts , and going to e-drive might require up to another 600 MW, Klein said. In other words, it could take the entire capacity of Site C dam to run a hybrid system.As for phase 1, Klein said the economics look good.Whether LNG from Canada will ever make it to Europe, Klein suggested it's more likely that cargoes that currently go to Asia from other producing countries, like the U.S. or Australia, could end up displaced.
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