Startup of LNG Canada to Double B.C. Natural Gas Revenues
SEATTLE (Oil Monster): LNG Canada is reportedly getting ready to start up Canada’s first LNG export terminal. The project is expected to be online by mid-2025. The development is expected to more than double the province’s proceeds from natural gas projects. The production is likely to commence by the middle of this decade, which in turn will boost the province’s financial outlook.
The export terminal will mark the first large-scale exports of natural gas from Canada to countries other than the U.S. According to the U.S. Energy Information Administration (EIA), the primary export market will be countries in the Asian region, where natural gas demand is projected to surge by more than 50% over the next three decades.
According to Jason Klein, CEO, LNG Canada, over 3,000 Canadians have worked on the project till date. Almost 9,000 Canadians were employed at the Kitimat site in the opening month of the year alone, he said.
The efforts to cut carbon emissions by China will see the country dominating the rising LNG global demand. The LNG export facility boasts lowest carbon intensity among all large scale LNG export terminal facilities operating today. The emissions from the terminal is likely to be 35% lower than the world’s best performing facilities today.
YOU MAY ALSO BE INTERESTED IN: