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Released July 12, 2023 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Canada is primed to establish itself as the reliable energy supplier the world needs at a time when energy security is a paramount concern, the head of LNG Canada (Kitimat, British Columbia) said.
Vancouver is hosting an annual conference on liquified natural gas (LNG). This year's conference was originally scheduled for St. Petersburg, Russia, but was relocated because of the ongoing conflict in Ukraine.
Jason Klein, the head of LNG Canada, said the change in venue was symbolic of the intersection between energy and geopolitical issues. Russia was once the dominant oil and natural gas supplier to the European economy, though sanctions imposed in response to the war caused a reshuffling of global energy flows.
"Our LNG will provide security of supply for global markets that can rely on Canada's natural gas reserves to advance their economies and reduce global greenhouse gas emissions," he said ahead of this week's conference in Vancouver.
LNG Canada is building an LNG export facility in British Columbia with support from a joint venture that includes Shell plc (NYSE:SHEL) (London, England) and a handful of Asian energy corporations, such as PetroChina (Beijing, China). Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for more details.
Natural gas will arrive at Kitimat through the 415-mile, US$5 billion CoastalLink pipeline being built by TC Energy Corporation (NYSE:TRP) (Calgary, Alberta). Subscribers to Industrial Info's Pipeline Project Database can click here for related reports. Total Canadian natural gas production is averaging around 15 billion cubic feet per day, and while that pales in comparison to the output from the seven primary shale basins in the United States, about 30% of total gas production goes to the U.S. economy.
Isolated almost exclusively to markets in North America, Canada has been looking for alternative export arteries, particularly after the long-pursued Keystone XL oil pipeline to the U.S. Gulf Coast was scrapped on environmental grounds.
Klein at LNG Canada said the project is nearly 85% complete and could be in service as early as 2025, becoming the nation's first large-scale facility of its kind. In 2018, Industrial Info put LNG Canada at the top of the heap in terms of final investment decisions (FID), with the $20 billion commitment representing 70% of that year's FIDs. The COVID-19 pandemic may have stifled FIDs, though IIR sees the potential for nearly $50 billion in investment decisions for LNG by 2024, showcasing the growing importance of the super-cooled liquid gas.
Germany, for example, was able to build a regasification terminal in less than a year, with Uniper (Dusseldorf, Germany) converting liquid gas back to its gaseous form using an offshore floating, storage and regasification unit dubbed Hoegh Esperanza.
Alberta's energy minister told the CERAWeek energy conference earlier this year that his province was the responsible energy producer for today's market.
"Alberta energy is the best choice for allies around the world," he said.
Officials in Western Canada are lauding the prospects for LNG, citing the importance of "reliable corridors" for energy. Canada, they said, has an important role to play in global energy security, provided the export arteries are there.
"It's an exciting time for LNG. People everywhere are learning about the transformational role this important energy source will play in a lower carbon future, and in the global energy transition that's already underway," said LNG Canada's Klein. "Canada is very well-positioned to answer the call."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Vancouver is hosting an annual conference on liquified natural gas (LNG). This year's conference was originally scheduled for St. Petersburg, Russia, but was relocated because of the ongoing conflict in Ukraine.
Jason Klein, the head of LNG Canada, said the change in venue was symbolic of the intersection between energy and geopolitical issues. Russia was once the dominant oil and natural gas supplier to the European economy, though sanctions imposed in response to the war caused a reshuffling of global energy flows.
"Our LNG will provide security of supply for global markets that can rely on Canada's natural gas reserves to advance their economies and reduce global greenhouse gas emissions," he said ahead of this week's conference in Vancouver.
LNG Canada is building an LNG export facility in British Columbia with support from a joint venture that includes Shell plc (NYSE:SHEL) (London, England) and a handful of Asian energy corporations, such as PetroChina (Beijing, China). Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for more details.
Natural gas will arrive at Kitimat through the 415-mile, US$5 billion CoastalLink pipeline being built by TC Energy Corporation (NYSE:TRP) (Calgary, Alberta). Subscribers to Industrial Info's Pipeline Project Database can click here for related reports. Total Canadian natural gas production is averaging around 15 billion cubic feet per day, and while that pales in comparison to the output from the seven primary shale basins in the United States, about 30% of total gas production goes to the U.S. economy.
Isolated almost exclusively to markets in North America, Canada has been looking for alternative export arteries, particularly after the long-pursued Keystone XL oil pipeline to the U.S. Gulf Coast was scrapped on environmental grounds.
Klein at LNG Canada said the project is nearly 85% complete and could be in service as early as 2025, becoming the nation's first large-scale facility of its kind. In 2018, Industrial Info put LNG Canada at the top of the heap in terms of final investment decisions (FID), with the $20 billion commitment representing 70% of that year's FIDs. The COVID-19 pandemic may have stifled FIDs, though IIR sees the potential for nearly $50 billion in investment decisions for LNG by 2024, showcasing the growing importance of the super-cooled liquid gas.
Germany, for example, was able to build a regasification terminal in less than a year, with Uniper (Dusseldorf, Germany) converting liquid gas back to its gaseous form using an offshore floating, storage and regasification unit dubbed Hoegh Esperanza.
Alberta's energy minister told the CERAWeek energy conference earlier this year that his province was the responsible energy producer for today's market.
"Alberta energy is the best choice for allies around the world," he said.
Officials in Western Canada are lauding the prospects for LNG, citing the importance of "reliable corridors" for energy. Canada, they said, has an important role to play in global energy security, provided the export arteries are there.
"It's an exciting time for LNG. People everywhere are learning about the transformational role this important energy source will play in a lower carbon future, and in the global energy transition that's already underway," said LNG Canada's Klein. "Canada is very well-positioned to answer the call."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
