Canada’s LNG Industry Must Move Fast Into The Global LNG Market
Natural gas production in Canada will likely decline in the next decade if no new export facilities are constructed and put in to operation. The Calgary-based Canadian Association of Petroleum Producers said Canada needs access to global liquified natural gas markets to help stimulate the industry.
United States natural gas supplies are displacing western Canadian gas in the traditional markets and without access to global LNG markets to stimulate production of Canada’s natural gas supply, production will decline steadily over the next 10 years. This combined with the deal Iran has signed with the P5+1 group for sanctions relief which would include the natural gas and liquefaction industry could be bad news for Canada’s LNG Industry if they don’t get in the game real soon.
Canada needs to get regulatory approvals in place in order to attract the billions of investment dollars required to build an LNG business and expand natural gas production to support it. LNG Canada lead by Shell, with a proposal for Kitimat B.C. is in line with Pacific Northwest LNG in Prince Rupert but hey need to have more incentive to get in the the game ASAP. LNG facilities are a great opportunity for job creation both in the initial construction and in daily operations. Not only is there operation workers needed but there would be just as many spin off jobs for services such as maintenance and procurement.
Terry Smeader
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Tags: Canada, Global LNG Market, LNG
