Page 13 - NorthAmOil Week 37 2021

NorthAmOil PROJECTS & COMPANIES NorthAmOil

FortisBC scales back Tilbury

LNG expansion plan

BRITISH CANADA’S FortisBC has filed a detailed pro- base plant. However, FortisBC said the base
COLUMBIA ject description (DPD) for the Phase 2 expan- plant, which was built in 1971, will be retired
sion at its small-scale Tilbury LNG facility with once Phase 2 is complete. The expanded facil-
regulatory authorities. The DPD involves both ity will have a storage capacity of 216,400 cubic
the incremental liquefaction capacity and the metres.
additional storage capacity for the project being Despite the reductions in storage and capac-
scaled back from initial plans. ity, though, FortisBC has not cut its cost estimate
The DPD comes roughly 18 months after for the project, still putting it at CAD3.0-3.5bn
the initial project description (IPD) was filed, ($2.4-2.8bn).
and the adjustments have been made following Tilbury LNG produces LNG for transpor-
early-stage engineering and other engagement tation, including for use as a marine fuel by BC
activities carried out since then. Ferries and Seaspan Ferries. FortisBC has also
Incremental capacity from the Phase 2 expan- shipped LNG to China from Tilbury in the past,
sion has been reduced to 7,700 tonnes per day though on a small scale.
from 11,000 tpd in the IPD. Additional storage The company says it is now working with the
capacity in Phase 2 has been reduced to 142,400 Vancouver Fraser Port Authority to develop the
cubic metres from 162,000 cubic metres previ- first ship-to-ship LNG marine refuelling service
ously. This has been attributed to early engineer- on the west coast of North America.
ing and planning work that allowed the company Phase 1 of the Tilbury LNG expansion is
to more accurately estimate how much addi- currently underway and could be complete by
tional storage capacity it would need. around 2025. If Phase 2 is approved, the storage
Once the expansion is built, the Tilbury LNG expansion could be complete by around 2026,
facility will be able to produce about 10,460 tpd with the liquefaction capacity expansion follow-
of LNG, including 60 tpd from the terminal’s ing around 2028.™

NEWS IN BRIEF

UPSTREAM plays in Western Canada”, commented Tony PHX Minerals announces
Angelidis, president and CEO.
Clearview Resources the management of Clearview, whereby entry into Haynesville
In addition, there has been a change in
announces strategic Darcy Ries, vice president engineering and acquisition
chief operating officer, is no longer with the
undeveloped land company. PHX Minerals announced today that it has
Joining the management team of
agreed to acquire in two separate transactions
acquistion in the Clearwater Clearview, as its interim vice president certain mineral and royalty interests totaling
approximately 817 net royalty acres in East
engineering and chief operating officer, is
Play and management Mr. Rod Hume. Mr. Hume is a professional Texas and Louisiana targeting the Haynesville
play (the “Acquisition”) for aggregate
engineer with over 24 years of industry
change experience in the acquisition, production, consideration of $7,249,347 in cash and stock,
development and exploitation of oil and gas
subject to customary closing adjustments.
Clearview Resources is pleased to provide the assets. Mr. Hume was formerly Senior Vice The purchase price consists of $728,214 in
following corporate update. President, Engineering at Delphi Energy cash and $6,521,133 in PHX common stock
Clearview has recently completed the Corp. issued directly to the sellers of the assets. The
acquisition of 14,240 gross and net acres “We are very excited to be working with shares to be issued are subject to a 120-day
of Crown land in the Jarvie area of Alberta Rod Hume again as we expand the company’s lockup period. The board of directors of PHX
focused on the developing Clearwater oil play portfolio of opportunities and with our unanimously approved the acquisition, which
in the region. improved financial position allocate internally is subject to certain closing conditions and is
“This land acquisition is complementary generated funds towards development of expected to close by September 30, 2021.
to Clearview’s strengths of building these opportunities”, added Tony Angelidis, Chad Stephens, president and CEO, said:
opportunities from the ground level and president and CEO. “The agreements we entered into today
provides the Company with a significant CLEARVIEW RESOURCES, September 13, 2021 involve additional acquisitions of exceptional
position in one of the most economic oil mineral assets targeting the Haynesville

Week 37 16•September•2021 www. NEWSBASE .com P13