Post by
Maxmoe on Aug 23, 2022 11:29pm
Meanwhile, back on the farm
As mentioned, the only thing close to production in under 3 years minimum, on the east coast of Canada, is the now repsol owned facility in Saint John. It was designed for importing LNG for use by Irving. If you don't know the Irvings they are bazillioaires based in New Brunswick with a near monopoly on oil refining and distribution in eastern Canada amongst other huge industrial businesses. The sale of their interest in the LNG plant looks typically shrewd to me. If repsol leaves it as is, Irving is basically the only customer, they can and will dictate tough terms. If repsol plans to spend big money to "reverse the flow" like the landmark reversible falls of Saint John, Irving will be sitting pretty waiting to draw whatever gas they need transported via Maine as planned. At no capex to Irving. The irvings are well accustomed to working around Quebec to get what they want/need. In my time horizon, no pipeline of oil or gas will be built from Quebec City east. So farewell Germans, keep talking amongst yourselves and with your fellow sock shorters.
Comment by
Maxmoe on Aug 25, 2022 12:45pm
Go ahead, short it. Or short some more. More and more LNG leaving the USA instead of stuffing storage will pull our gas south. At higher and higher prices.if you want cheap gas , pull my finger.