Radisson Hotel Vancouver Airport & Conference Centre Richmond – Salon AB 8181 Cambie Rd, Richmond, BC V6X 3X9
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B.C. currently has more natural gas than it can export. Demand from its only export market, the U.S., has dropped 16% over the past 5 years and are expected to decline further due to rising U.S. domestic supply. Canadian natural gas producers have set their sights on Asian markets as an alternative due to their growing energy demand and potential for higher prices. In China alone, the national demand is growing 5% annually. For its proximity to the Asian markets, British Columbia sees more export opportunities than most of its competitor in North America.
There are minimum of 14 proposed BC LNG projects with respect to the project infrastructure and the sourcing of natural gas for the facility with 7 licenses approved by the NEB. These projects are located mainly between Kitsault, Kitimat, Prince Rupert and Grassy Point, B.C. New pipeline infrastructure will be required to transport gas from producing regions in the northeastern part of the province, such as Montney, Horn River and Liard to the export facilities. The booming LNG sector in B.C. will benefit the province in many aspects. B.C.'s GDP is expected to grow to $116 billion as a result of natural gas investment.
We strongly believe NOW is a great time to target the upcoming LNG boom in the region.