The Vancouver Business Thread

[craneSpotter]

Energy offices flock to Vancouver as natural gas projects gather steam

National Post - Jan 9, 2013

British Columbia’s deep-rooted environmentalism is about to get a much stronger counterpoint as a growing number of energy giants establish a corporate presence on the West Coast.

Chevron Corp., Royal Dutch Shell PLC, Petronas, BG Group, Enbridge Inc., TransCanada Corp., Kinder Morgan have opened offices, are expanding or are planning to set up offices in Vancouver or nearby to oversee the planning of liquefied natural gas (LNG) plants on the northern coast, build pipelines, talk up the benefits of energy development to policy makers, communities and First Nations.

They are joining Houston-based Spectra Energy Corp., until recently the lone energy company with a large presence in Vancouver, a legacy of its takeover of B.C.-grown Westcoast Energy Inc. about a decade ago...

...BG Canada opened an office in Vancouver last summer because its LNG plans are B.C.-focused, its environmental consultants and its pipeline partner — Spectra — are based in the city, and it wanted to be seen as a part of the community, said acting president Steve Swaffield.

If the British natural gas giant moves forward with a 3.5-billion-cubic-feet-a day terminal in Prince Rupert, the project team will likely be based in Vancouver.

Hmmm, CNOOC?? I would also say Chevron already had a fairly large presence in Vancouver, considering Chevron Canada Limited (downstream stuff - marketing/retail/BC chain of stations and fuel depots) has its headquarters downtown as well as operating a small refinery in Burnaby

[craneSpotter]

Canada playing a growing role in global mining industry

Country now attracting 18 per cent of world’s mineral exploration

Gordon Hamilton, Vancouver Sun January 21, 2013 (link)

Canada’s mining industry broke records in 2011 for exploration spending, production and exports, according to a report released Monday by the Mining Association of Canada.

The report states Canada has emerged as the world’s top destination for mineral exploration, attracting 18 per cent of global investment, well ahead of second-place Australia, which attracted 13 per cent.

Further, Canada has developed world-leading hubs at Vancouver and Toronto for exploration and investment, respectively, said Pierre Gratton, president of the Mining Association of Canada.

Vancouver is the top destination for mining exploration, with the world’s leading cluster of exploration companies, while Toronto is the global hub for mining financing, with the TSX and TSX Venture exchanges accounting for $12.5 billion, or 40 per cent of global mining equity capital, according to the report.

The report states there are 1,200 exploration companies in the Greater Vancouver area , while the Toronto Stock Exchange lists 58 per cent of the world’s public mining companies.

London is still the global finance centre for mining in terms of large transactions, but Toronto leads in terms of total value, Gratton said.

[hollywoodnorth]

Port okays controversial coal expansion

Port Metro Vancouver (PMV) has approved coal-handling upgrades at Neptune Terminals – one of two controversial local proposals to up coal-handling capacity in the Metro Vancouver area.

full story .. http://www.biv.com/article/20130125/...coal-expansion

[allan_kuan]

From today on CBC BC:

Delta port expansion plans opposed

A new community group, with members from three South Delta churches are organizing to oppose Port Metro Vancouver expansion plans for the Roberts Bank terminal.

http://www.cbc.ca/news/canada/britis...expansion.html

Firstly, it seems that they may have seemingly misidentified the area that Deltaport is in as farmland when it's really a man-made jetty sticking out into the Georgia Strait... That or perhaps the new warehouse is going to sit on the north end of the Tsawwassen FN reserve? In the former case there's technically no farmland impacted... and in the latter case there will be some impacts but I'm not going to stop the FN from developing such to broaden and sustain their economic base.

Secondly, I understand there's some immorality about shipping dirty coal overseas for it to be used as a fuel when we ourselves are committed to the fight and cleanup against airborne pollution; having said that, shutting down or constraining this port's capacity may not sound very smart if the jobs, revenue and/or ships can and will simply move elsewhere to a different port that's willing to take up the offer.

[whatnext]

Festival Cinemas has been sold to Cineplex! That's a shock,but I suspected somethign when I recived that survey from festival offering Scene points when I completed it.
http://www.vancouversun.com/entertai...811/story.html

[Klazu]

I think hasn't been discussed here before, but Vancouver was recently ranked number 15 on the list of World's Leading Finance Centers.

According to the study we are ahead of cities like Sydney, Shanghai, Paris and Moscow, which was surprising to find out. Index is based on comments by 2000+ 'finance professionals' and puts emphasis on level of corruption, ease of doing business, infrastructure etc.

[whatnext]

Not sure where this fits, but there was an article in the Sun about how Celebrity Cruises is having to retrofit their Solstice with a telescoping mast to fit under the Lions Gate Bridge. (Time for a tunnel!)

http://www.canada.com/vancouversun/n...2-2bfd64ce1d6f

Coinicidentally today (April 28)is the 122nd anniversary of the arrival of Canadian Pacific's first purpose built passenger liner for the Vancouver-Orient TransPacific trade. A shot of her going through the narrows from West Van Archives. A far cry from behemoths like the Solstice!

[spm2013]

Enjoyed this quote:

Wirtz said it is feasible to raise the Lions Gate Bridge, but it is likely proportionally cheaper to modify the mast or funnels on the cruise ships.

Thanks genius.