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    TOU FP says Tourmaline's Rose keen for LNG Canada's phase 2


    October 4, 2022 - Canada StockWatch

     

      Tourmaline Oil Corp (TSX:TOU)

      Shares Issued 336,717,634

      Last Close 10/3/2022 $74.12

      Tuesday October 04 2022 - In the News

      The Financial Post reports in its Tuesday edition that on a drizzly stretch of B.C. coastline at the head of the Douglas Channel, Canada's first natural gas export terminal is taking shape. The Post's Meghan Potkins writes that the sprawling site on the traditional territory of the Haisla Nation teems with more than 5,000 construction and trades workers, working around the clock to complete the $40-billion Shell PLC-led LNG Canada terminal. Already more than 70 per cent complete, LNG Canada could be operational by the middle of the decade and promises to unlock the full economic potential of Canada's rich gas reserves. Oil patch veterans are urging Shell and its partners to quickly green-light a second phase of the project, effectively doubling the export capacity of the plant from 14 million tonnes of LNG per year in the first phase, to 28 million tonnes a year. "We had an opportunity that required us getting after these projects 10 to 15 years ago. We didn't for all kinds of reasons," said Tourmaline Oil chief executive officer Mike Rose. "Fortunately, we have a second crack at it. So I'd like to see more than just LNG Canada phase 1 -- we'd like to see both phases of LNG Canada and more projects on the West Coast."

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