Wednesday, September 18, 2013

BG looking to become largest seller of natural gas by purchasing Canadian gas fields

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BG Group Plc, a UK energy company seeking to become the world’s largest seller of liquid natural gas by 2017, is planning to purchase natural gas fields in Canada to supply a proposed liquefied natural gas plant on the nation’s Pacific Coast.

The plan to build a liquefied natural gas plant on British Columbia’s Ridley Island was made so the company can ship liquefied natural gas to growing markets in Asia. The company has already partnered with Spectra Energy Corp, one of the area’s largest natural gas producers in North America, to build a 525-mile (850 km) pipeline that will pump gas into the facility. It is currently looking for additional resources to fuel its growth.

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The proposed Prince Rupert plant foresees two production units with a combined capacity of 14 million metric tons annually. BG even plans to add another production unit should the need arise. Several terminals are planned for Canada’s Pacific Coast to liquefy natural gas for shipping to Asia via tanker, and the proposed terminal is just one of those.

BG is exploring options with promoters of other LNG companies to see if cooperation on the pipeline’s development can be found and expects to make a final decision on the proposed Prince Rupert plant venture in 2016.

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More updates on the natural gas and the petroleum industry can be found at this Twitter page for Ali Ghalambor.

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