Canada's LNG Exports to Reach New Heights

A recent report from Norton Rose Fulbright predicts Canada's LNG exports will reach new levels by 2030, with an estimated 45 million tonnes of export capacity. This growth is attributed to demand in price-sensitive Asian markets and growing import capacity.

New projects in development are expected to contribute approximately 19 million tonnes per year (MTPA) to this total, while two other projects currently under consideration could further increase Canada's LNG output to 45 MTPA by the early 2030s.

Business leaders at a recent Greater Vancouver Board of Trade Event expressed optimism about the industry's prospects, with Calgary-based managing director Dane Gregoris stating that 'six more LNG-Canada-sized projects' could be feasible. He highlighted Phase 2 expansion of LNG Canada and Nisga'a Nation's Ksi Lisims LNG as potential initiatives.

Shannon Young, general counsel and vice-president of external affairs for Petronas Energy Canada, emphasized the need for a 'comprehensive' natural gas strategy with set export targets to support British Columbia's economy. Meanwhile, Quebec's government may be open to LNG projects after defeating a motion to block Marinevest Energy's proposed pipeline and LNG project.