Chevron postpones Kitimat LNG decision to 2014, seeks new equity partners
Competitors are trying to sell natural gas to Asian customers using the cheaper Henry Hub North American market benchmark rather than higher Japanese bench mark which is based on the price of oil.
The Dow Jones report says Chevron, which is partnered with Apache, is still having problems finding customers in Asia. It quotes George Kirkland, head of Chevronís upstream business, as saying that the company is offering customers equity stakes in the Kitimat project. Kirkland told a conference call that equity should be more attractive to buyers.
[...]READ IT ALL HEREMWPR Notes; It was this Asian Market the New Premier Promised was BC's Economic Savior
Our May 10, 2013 Article The Big LNG Lie
is proving to be accurate.