Environment & Energy Bulletin >>
The LNG Opportunity in BC: Separating Rhetoric from Reality -- Part I
At the same time as China and Russia signed a massive 30 year, $400 billion natural gas trade agreement, the BC government continued its push to establish an LNG industry with a (successful) global LNG conference in Vancouver. The May event came on the heels of Premier Clark’s fifth trip to Asia promoting, in part or full, LNG opportunities in the province.
The China-Russia agreement is emblematic of the changing energy supply landscape; it also speaks to the size of the potential opportunity for jurisdictions like BC considering the contract constitutes only 29% of China’s future import requirement.
Closer to home, critics continue to question whether BC can develop the LNG sector in a responsible and economically sensible manner that will deliver the benefit set expected by government.
In this two part Energy and Environment Bulletin, we assess the validity of arguments suggesting BC is making a mistake in seeking to advance LNG and that the province would be wiser to halt, slow down or significantly change its approach to LNG development.