The economic benefits from building facilities and exporting gas at a premium price are substantial and it helps to reduce coal use in Asia
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After years of planning and construction, the first major liquified natural gas (LNG) project in British Columbia — LNG Canada’s export terminal in Kitimat — is about to be completed. The $18-billion investment is supplied by a pipeline from northeastern B.C. The terminal’s imminent completion is already stoking interest in other LNG projects, including the Cedar LNG project also at Kitimat (a joint venture of the Haisla Nation and Pembina Pipeline Corp.), the Woodfibre LNG terminal near Squamish, Ksi Lisims LNG on Pearse Island, a floating export facility, as well as a possible Phase 2 of the LNG Canada project.
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To help understand the benefits of more LNG projects, a study I’ve just completed for Resource Works documents the impact on the B.C. and Canadian economies of a $4.1-billion LNG project. The $4.1-billion figure is an estimate of the annual investment made by a large LNG project that ultimately may total tens of billions of dollars over the decade such undertakings typically take to complete. Conversely, if nothing does take the place of the LNG Canada........