Canadian gas advocate weighs in on LNG prospects
Energy for a Secure Future (ESF), a civil society initiative comprised of various Canadian energy leaders, says there is a “compelling case” for Canadian LNG to provide “significant” environmental, social and economic benefits at home and around the world.
In its latest paper, Canada’s LNG Opportunity: A Value Proposition Worth Celebrating, released June 19, the ESF points out that west coast Canadian LNG projects now under development – the 14mn metric tons/year LNG Canada project in Kitimat and the smaller Cedar LNG and Woodfibre LNG projects – are “world-leading” in terms of energy intensity.
“LNG produced on Canada’s west coast would create 65% fewer greenhouse gases than coal when used to generate electricity,” it says.
And if all those projects were to move forward, the impact on Canada’s economy would be substantial: a C$10.2bn boost to annual GDP, C$3.6bn in annual revenues to Canadian governments, and the creation of more than 77,000 jobs across the country.
“Canadian LNG presents a compelling case of how to meet global energy, environmental, affordability, and security needs,” ESF chair Shannon Joseph said. “It also helps advance economic prosperity and other social goals in Canada, including indigenous reconciliation.”
But achieving these benefits, the paper says, will require taking a “full value approach” to LNG development, including creating a nurturing, timely and predictable regulatory framework and an international framework that recognises and credits Canada for the environmental benefits of sending Canadian LNG to international markets.
“Natural gas is the solution to substantially reducing emissions in Asia through the displacement of coal and Canada is the source of some of the cleanest natural gas fuel on the planet,” said Dominic Barton, a member of the ESF advisory board and chair of Rio Tinto. “We have a very important role in helping countries with transition by supplying clean natural gas.”
Countries around the world are seeking new energy partners – to bolster their energy security and to support their environmental goals, the paper notes. Many – including Germany and Japan – have come to Canada to secure clean, affordable and secure energy, and with about 1,373 trillion ft3 of natural gas resources, Canada is “well positioned” to help meet that demand.
“What is needed is the right level of focus and support from governments to take advantage of this opportunity,” Joseph said.