LNG means Liquified Natural Gas which is
natural gas from overseas that is
cooled to a liquid, shipped in tankers and then
turned back into gas in a Western market.
CANADA BUYING USSR'S GAS
Petrocan means Canada and Gazprom means USSR.
Mr Miller is Alexi Miller, CEO of Gazprom...
Former prime minister Jean Chrétien is known to have
a good relationship with Russian President Vladimir Putin.
Update! Petro-Canada signs on for plan to ship liquefied natural gas from Russia. Canada.com, Oct 12, 2004:
MOSCOW (CP) - Petro-Canada and Russia's Gazprom have signed a tentative deal aimed at shipping liquefied natural gas to North American markets by 2009. Petro-Canada CEO Ron Brenneman and Gazprom management committee chairman Alexey Miller signed the memorandum of understanding to investigate the joint project Tuesday, Calgary-based Petro-Canada said. The memorandum includes a co-operative study of liquefaction, re-gasification and supply-demand fundamentals, the company said in a release. It also includes the potential for more co-operation in both Russia and North America on exploration and production, re-gasification and marketing, with the possibility of jointly developing a liquefaction plant in the St. Petersburg region. Petro-Canada (TSX:PCA) recently announced a joint agreement to pursue development of the Cacouna Energy re-gasification plant at Gros Cacouna, Que. TransCanada Corp. and Petro-Canada are teaming up to build that $660-million LNG plant in northeastern Quebec as North America looks overseas to supply future fuel demand.
The proposed facility will be capable of providing 500 million cubic feet of natural gas per day to markets in Canada and the United States."This is both the right time and the right opportunity to advance Petro-Canada's presence in the full LNG value chain," CEO Ron Brenneman said in a release. "This (memorandum) is a critical first step in achieving a long-term business relationship with Gazprom in support of our growth strategy." Gazprom is one of the world's largest natural gas and oil companies. In 2003, the company extracted about 19 trillion cubic feet of natural gas. Petro-Canada, in which the federal government recently sold its remaining stake for about $3.2 billion, is one of Canada's largest oil and gas companies.
Petrocan CEO met with Russian oil company executive
Discussed an investment in LNG sector
By PATRICK BRETHOUR, Globe & Mail, Sep 25, 2004
CALGARY -- Petro-Canada CEO Ron Brenneman was part of an elite group of energy executives that met with the head of Russian energy giant OAO Gazprom in New York this week to discuss Western investment in Russia's nascent liquefied natural gas sector. Mr. Brenneman was the only executive from a Canadian company present at a Thursday meeting with Gazprom chief executive officer Alexei Miller, Rex Tillerson, president of Exxon Mobil Corp., and Jim Mulva, president and CEO of ConocoPhillips Co. Gazprom said the meetings focused on how to bring Russian gas to the U.S., "largely supplied" from its Shtokmanovskoye field in the Barents Sea. Petrocan confirmed that Mr. Brenneman was in New York on Thursday, but would provide no further details, saying it is constrained by the federal government's pending sale of its 19-per-cent stake in the company.
But Mr. Brenneman has on earlier occasions made it very clear that Petrocan has ambitions to become a significant player in the emerging global market for LNG, which will see natural gas stranded overseas cooled to a liquid, shipped in tankers and then turned back into gas in a Western market. In June, the Petrocan CEO said the company was in five sets of talks -- including with Gazprom -- aimed at securing sources of gas to liquefy and ship to the United States. Earlier this month, Petrocan and TransCanada Corp. announced plans to build a $660-million liquefied natural gas receiving terminal in eastern Quebec.
On Wednesday, Mr. Miller met with David O'Reilly, chairman and CEO of ChevronTexaco Corp., and signed a memorandum of understanding that will see the two firms launch a study on joint projects in the United States and Russia. Gazprom has been soliciting partners for months, and has also signed a similar memorandum with Norway's Statoil. A Russian energy publication quoted the firm as stressing that the memoranda do not guarantee the two firms will be selected as partners; a final decision is expected next spring.
Petrocan's involvement has not even progressed that far, and an analyst yesterday cautioned that the Canadian company has yet to commit to investing in Russia as a source of LNG. Wilf Gobert, vice-chairman of Peters & Co. Ltd., said Petrocan is also evaluating a "portfolio of possibilities" in the Middle East and west Africa. The company is also much smaller than the U.S. firms vying for Gazprom's favour; Exxon is the world's largest energy company, and the other two supermajors, ChevronTexaco and ConocoPhillips, are in a league quite apart from Petrocan. But Mr. Gobert said Petrocan does have some distinct advantages: It is Canadian; former prime minister Jean Chrétien is known to have a good relationship with Russian President Vladimir Putin, who is increasingly influential in his country's energy sector; and Gazprom may be looking for smaller partners that can offset the influence of massive U.S. firms. Meanwhile, Petrocan is becoming more international in a much different sense: The popularity abroad of the government's sale of its 49.4 million shares means that the former Crown corporation is about to become majority owned by foreigners. The company said yesterday that non-Canadians held about 40 per cent of its stock, excluding the effect of Ottawa's sale. Investment bankers involved in the deal said seven in 10 shares were bought outside Canada -- meaning that around 53 per cent of Petrocan will be held by foreigners once the sale is completed next week.
LNG plant more likely in Canada (communities more receptive than USA; people taught to 'see & learn' before 'misconceptions' are formed). National Post, Jan 30, 2005. Go to 9.Keeping Masses Down & CANADA/USSR DEAL IN LNG
USSR STEALING CANADA'S STEEL
Canadian steel union likes Russian bid (4,000 Stelco workers back USSR Severstal buying record-breaking profit maker). National Post, Feb 15, 2005. Go to SELLING ROPE TO HANG US
Keep Beijing out of Sudbury (security of USA & Canada at stake). National Post, Oct 1, 2004. Go to A NICKEL FOR YOUR KINGDOM
6.Super-States and 7.Systems of Thought
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