Liquefaction + shipping +re-gas costs more than E/A LNG gas delivered to Asia.
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12 January 2015 20:18 GMT
The initial phase of the WCC LNG project would produce up to 15 million tonnes per annum of LNG from a plant in Tuck Inlet in Prince Rupert, north-west BC, according to afiling last week with the BC Environmental Assessment Office.
The project, which has already been approved by National Energy Board, is permitted to liquefy up to 30 mtpa.
Project concept is still under development. Options include a floating barge-mounted facility and a fully onshore facility.
A final investment decision is not likely until 2017, after the current period of data acquisition and engineering studies wraps. If construction begins in 2017, it will likely stretch into 2024, according to a time line posted on ExxonMobil's website.
The initial phase of construction is expected to cost between C$15 billion and C$25 billion, with up to 6000 workers on site at the peak, according to last week's filing.
The project is one of 18 LNG projects proposed for northern British Columbia, as gas producers look to tap Asian markets where commodity prices are higher.
Last month, Malaysia's Petronas opted to delay an investment decision on its $36 billion Pacific NorthWest LNG project after questioning the "economic viability" of the project.
Like the Petronas project, WCC would source unconventional gas produced from the Western Canadian Sedimentary basin.