Engineer friend watching today's LNG business news (thread): "So much for that one...Pieridae Energy put itself up for sale this morning. How they thought they could ship gas from southern AB to Germany as LNG, likely burning 40% or more on the way, & make a profit is a mystery..
.."Pieridae had to compete with the US as well & US is on tidewater to start. Same w/ the Quebec LNG project that just got cancelled, doing the same w/ gas from AB. LNG has to be the most wasteful process imaginable, esp. from western Canada which is so far from markets" #bcpoli
.."Pieridae took over Shell's dangerous old sour gas wells in southern AB that need to be cleaned up. Who will buy them now? The advantage Pieridae had was that the gas in southern AB wasn't fracked so could be sold to Germany, but they did need processing to remove the H2S gas"
.."We'll no doubt be stuck with cleanup, and these are old corroded gas wells and dangerous if something goes wrong because of the H2S [deadly sour gas]. I can't see any companies taking on this liability, so likely no buyers for Pieridae." #ableg #cdnpoli #LNG
.."The problem is worse than than just old gas wells too, as there are numerous small diameter pipelines that carried gas from wells to processing plants. They can still contain sour gas too, and many are now not marked, or hidden in the bush that has grown up over the years."
..Engineer: "Incredible that BC gov't would use taxpayers' money to subsidize a gas industry that can't survive on its own. Maybe Horgan could find a way to credit BC w/ carbon credits by leaving gas in the ground, stop pelletizing forests & stop logging Old Growth carbon sinks"
..Engineer, in conclusion: "Climate change doesn't follow economics, at least not the economics we use which really don't apply any more."
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