New positive signs are out today from the LNG Canada projectMore positive signs are out today from the LNG Canada project, new article:
https://www.jwnenergy.com/article/2018/7/goose-bumps-kitimat-shell-ramps-activity-towards-lng-canada/
Calgary-based Stream Asset Financial Management said this week it believes a positive final investment decision "is effectively a done deal" and will be announced earlier than expected, likely in the second or third week of September. National Bank of Canada analyst Greg Colman believes "the probability is weighted towards a positive decision." His team, using Google Earth, has spotted old storage tanks being cleared from the site, a barge installing piles to expand the pier, and preparatory work for the massive camps that would host thousands of workers.
Terrace Mayor Carol Leclerc, whose city 60 kilometers (38 miles) to the north serves as the region’s hub, says she’s "99.9 percent" sure the project will move forward, citing the flurry of activity. "It’s going to be like a tidal wave coming into the northwest."
The clock is ticking. British Columbia has set a Nov. 30 deadline for a final decision if the project is to claim as much as C$6 billion in tax breaks and savings. Meanwhile, in recent weeks both LNG Canada and TransCanada Corp., which would build the 670-kilometer pipeline to supply the terminal, have selected their main contractors to lock in prices for the project.
Graham Pitzel, a Re/Max real estate broker in Kitimat, says he’s getting calls nearly every day from people in Vancouver, Edmonton, Calgary and Toronto interested in purchasing properties in the town of 8,000 people, speculating prices will surge as the project takes off. Homes used to stay on the market for six months; now the average is half that. He says bungalows never fetched more than C$200,000 earlier, but he’s just sold one for C$260,000 and has an offer of C$290,000 on another.
“I’m building a house because if you try to do it after the project’s going, it’s going to be hard to find a contractor," Pitzel says. "It’s now or never."