The Premier of British Columbia is standing on his head vowing to stop the increase in the flow of oil from Alberta. At the same time, he is green lighting the development of LNG in his own province.
LNG is considered to be the clean alternative to carbon fuels and the Premier wants to see an increase in the amount of it produced in BC. When Natural Gas prices were high, the tax revenue from natural gas to the province was substantial.
Then, just as it seemed the industry was about to make final investment decisions in the development of large LNG processing facilities in BC, two things happened: the market for Natural Gas was flooded with new discoveries everywhere and the cost of production in BC soared.
As well, a host of new regulations and taxes were introduced in BC and the prospect of capitalizing on Asian demand for LNG came to an abrupt halt. The window of opportunity closed.
Energy experts now predict the next supply opportunity window is set to open in 2023. If BC hopes to be a participant in that market, it has to decide now to either go ahead or turn its back on the market.
We asked David Keane, the CEO of the BC LNG Alliance, to join us for a Conversation That Matters on the state of LNG in BC.
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Simon Fraser University’s Centre for Dialogue presents Conversations That Matter. Join veteran Broadcaster Stuart McNish each week for an important and engaging Conversation about the issues shaping our future