Canada Seeks to Tap Growing Global Demand for Liquefied Natural Gas
The Canadian government and two major provinces, Alberta and British Columbia, are working together to expand the country's liquefied natural gas (LNG) sector. This effort aims to take advantage of growing global demand for LNG, which has increased by over 60% in the past decade.
According to Ian Archer, a gas industry expert at S&P Global Energy, Canada needs to move quickly on this opportunity. He notes that customers are looking for a diversity of gas supply due to the conflict in the Middle East and the effective blockage of the Strait of Hormuz.
The Shell-led LNG Canada facility has already begun operating, and almost 100 cargoes have been shipped from the facility to Asia since its launch last summer. The project's partners are now examining an expansion to double its capacity, with a potential final investment decision expected in 2026.