{"id":8321,"date":"2015-05-21T06:34:18","date_gmt":"2015-05-21T11:34:18","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8321"},"modified":"2015-05-21T06:35:17","modified_gmt":"2015-05-21T11:35:17","slug":"who-is-bcs-big-lng-partner-a-petronas-primer","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8321","title":{"rendered":"Who Is BC&#8217;s Big LNG Partner? A Petronas Primer"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/thetyee.ca\/News\/2015\/05\/21\/Who-Is-Petronas-LNG\/\" target=\"_blank\">Who Is BC&#8217;s Big LNG Partner? A Petronas Primer<\/a><\/h3>\n<p class=\"tagline\"><strong>Group led by Malaysia&#8217;s national oil company aims to build terminal near Prince Rupert.<\/strong><\/p>\n<p class=\"first\">Just one week after the Lax Kw&#8217;alaams band rejected a $1-billion offer by Petronas to build a liquefied natural gas terminal at the mouth of the Skeena River in British Columbia, Premier Christy Clark has signed an agreement with Malaysia&#8217;s national oil company to &#8220;establish the path to a final investment decision on the project.&#8221;<\/p>\n<p>Part of that path includes a long-term commitment by the provincial government not to raise natural gas royalties, regardless of changes in global prices for the commodity.<\/p>\n<p>Natural gas, like oil, is one of the world&#8217;s most volatile commodities in price.<\/p>\n<p>&#8220;With this certainty, industry can plan their operations over a longer period of time and commit capital to jobs and production needs, while the Province has a guaranteed royalty revenue each year,&#8221; said a government\u00a0<a href=\"https:\/\/www.newsroom.gov.bc.ca\/2015\/05\/agreements-lay-out-path-for-final-decision-on-lng-project.html\" target=\"_blank\">news release<\/a>.<\/p>\n<p>Pacific NorthWest LNG, which is largely owned by Petronas, has yet to make a final investment decision, and the proposed multibillion-dollar project near Prince Rupert must still pass an environmental review.<\/p>\n<p>Just what kind of company is Petronas, and what&#8217;s its relationship to the Malaysian government? The Tyee looked at the public record.<\/p>\n<p><span class=\"Apple-style-span\">1. The government of Malaysia\u00a0<a href=\"http:\/\/bakerinstitute.org\/media\/files\/page\/9dd51576\/noc_petronas_tronervdm.pdf\" target=\"_blank\">set up<\/a>the national oil company in 1974 when oil prices jumped from $1.50 to $12. The government did so with the goal of safeguarding &#8220;the sovereign rights of Malaysia and the legitimate rights and interests of Malaysians in the ownership and development of petroleum resources.&#8221; The company&#8217;s success has helped the government\u00a0<a href=\"http:\/\/kyotoreview.org\/issue-5\/malaysias-growing-economic-relations-with-the-muslim-world\/\" target=\"_blank\">to reach out<\/a>\u00a0to the Muslim world.<\/span><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Who Is BC&#8217;s Big LNG Partner? A Petronas Primer Group led by Malaysia&#8217;s national oil company aims to build terminal near Prince Rupert. Just one week after the Lax Kw&#8217;alaams band rejected a $1-billion offer by Petronas to build a liquefied natural gas terminal at the mouth of the Skeena River in British Columbia, Premier [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[5549,65,94,1714,1190,1445,5511,1715,5499,5533],"class_list":["post-8321","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-andrew-nikiforuk","tag-bc","tag-british-columbia","tag-liquified-natural-gas","tag-lng","tag-malaysia","tag-pacific-northwest-lng","tag-petronas","tag-the-tyee","tag-thetyee"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8321"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8321\/revisions"}],"predecessor-version":[{"id":8323,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8321\/revisions\/8323"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}