Wednesday, December 10, 2014

The flower is off LNG EXPORTING!

#Things got a hellova lot worse today than they were yesterday.  So much for Christie Clark's big spending on her get rich quick scheme in BC.  So much for the billion sunk already into the Kitimat LNG expansion.

Alberta is totally mismanaged.  The Conservatives have been running the province like a Casino for years and now, we have hit the wall.

GET OUT AND VOTE THIS TIME AROUND!   VOTE LIBERAL IN ALBERTA AND FEDERA

Reuters: LNG boom over as China looks to sell out of long-term deals

  • Sinopec (SNP -1.4%) reportedly wants to sell some long-term liquefied natural gas import deals as a slowing Chinese economy and cheaper retail gas makes LNG imports unprofitable, signalling the end of a five-year boom fueled by rising Chinese demand.
  • Reuters reports that SNP is planning to offload LNG from new export plants in Australia and potentially Papua New Guinea to BP, amid growing unease over the scale of an expansion that has seen the construction of 11 LNG import terminals since 2006 with plans for 25 more.
  • SNP also may sell excess volumes coming from its stake in Exxon's (NYSE:XOM) Papua New Guinea LNG, in which it invested in 2009 when LNG prices were low but Chinese demand was expected to grow for decades to come.
L!
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