James Alexander Michie: Prime Minister Trudeau defends LNG Canada | Bloomberg

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Bloomberg James Alexander Michie

Storage sphere tanks for liquefied natural gas (LNG) sit near transfer pipes at Aqaba port, operated by Aqaba Development Corp., in Aqaba, Jordan, on Wednesday, April 11, 2018. Both the LNG and the liquefied petroleum gas (LPG) terminals were developed to secure the supply of gas resources after the disruption in Egyptian natural gas imports in 2010. Photographer: Annie Sakkab/Bloomberg

Author: James Alexander Michie

The Royal Dutch Shell PLc liquefied natural gas project has recently been endorsed by Prime Minister Justin Trudeau, approved for $ 31 billion, and will not be affected by obstacles such as trade barriers as well. Import tariffs on steel.

Likewise, the prime minister told the media during a press conference held in Vancouver, “Trade barriers will not be an impediment to moving forward on this project”, said conference was given on Tuesday after the report that Shell and its four partners were moving forward with LNG Canada, the largest private sector investment in the country. Added to this, Trudeau said “There are specialized components that must be imported”, likewise established “But there will also be a large amount of Canadian steel used in the construction of this plant.”

Despite this, the concerns have not stopped but otherwise, they continue in a dispute that has not been solved with respect to Canada’s decision to impose tariffs on steel imports at the beginning of this year. Some facts could affect the approximately 140 complex steel modules, which are set as high as a 10-story building and weighing up to 10 jumbo jets, which LNG Canada has to import from China. LNG Canada claimed the duties in court, stating that no Canadian meeting patio has the experience or access to water to be able to send them to the site in Kitimat on the northwest coast of Canada. Meanwhile, the Federal Court of Appeal is expected to issue a decision soon.

For its part, no response was received from the prime minister as to how the government would respond to an unfavorable decision of the court, while Canada would promise at least C $ 275 million ($ 215 million) of federal support for the project, together with the commitment on trade barriers.

Take a read: https://www.bloomberg.com/news/articles/2018-10-02/trudeau-backs-lng-canada-against-threat-of-steel-duties

Source: Bloomberg

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