Here are some of the most interesting quotes from oil and gas coverage in the Daily Oil Bulletin for the week ending May 10, 2018.
Painted Pony CEO Pat Ward, commenting on the potential final investment decision (FID) to come this year on the Shell-led LNG Canada project:
“Certainly, the future of natural gas in Canada is LNG. I think we are closer than we have ever been to an LNG project going forward.
“It’s a very exciting time. I really believe this is going ahead. It looks like it will be this fall sometime — probably September or October is what we think.”
Tourmaline Oil CEO Mike Rose, discussing the potential effect a go-ahed decision on the LNG Canada project would have on Tourmaline’s northeast B.C. gas operations:
“We’d love that project to FID. Intuitively, if one project goes ahead we think it’ll be followed by others, and we kind of think that’s how Canada should view its LNG business.”
David Helmer, the Alberta Energy Regulator’s director of pipelines and industry operations, discussing a new report on pipeline performance in the province that shows a failure rate of 0.98 incidents per 1,000 kilometres of pipeline, compared with a failure rate of 2.08 in 2008. The regulator attributes this reduction largely to improvements to requirements and inspection programs, and a greater focus on industry education and pipeline safety.
“Pipeline incidents are preventable. For example, the number one leading cause of pipeline incidences is internal corrosion. We know if you do more preventative maintenance programs, then it goes a long way to reducing that failure mechanism.”
Enbridge CEO Al Monaco, stating that while the North American energy debate is frustrating, it also has an important silver lining:
“In Canada, the pipeline challenges are framed as a national crisis but that debate is changing the game, as we speak, because it’s making people think about why energy matters to them. The importance of energy to society is now finally resonating strongly.
“Today, the people in the middle are asking: ‘what happens if we can’t develop our resources and get them to market?’ and I’m hearing that more every day. They’re saying energy and the environment can go hand-in-hand — and they’re not mutually exclusive.”
Federal Conservative Party leader Andrew Scheer, commenting on Ottawa considering taking a monetary stake in the Trans Mountain Pipeline expansion project to ensure it is built:
“I think everyone can agree, regardless of their political stripes, that the federal government investing tax dollars in an energy project is not the optimal solution. It’s come to here because of [Trudeau's] failures.
“All eyes are on Trans Mountain, the hardest of the three [pipelines] to get built because it is going right through the heart of the very place where the protesters are more prevalent, who have also been emboldened by the prime minister saying that they must give permission through social licence before projects can go ahead…
"[It’s a] bizarre situation where we have a private company wanting to use shareholders money to build a project that would create jobs and economic activity in Canada, and the Liberal response is, well we are going to have to subsidize you to get to do that…. It should never have come to this.”