CONVERSATIONS THAT MATTER
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 greenlighting the development of LNG in his own province.
LNG is considered to be the cleaner alternative within the family of 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 B.C., two things happened: The market for natural gas was flooded with new discoveries everywhere and the cost of production in B.C. soared.
As well, a host of new regulations and taxes were introduced in B.C. 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 B.C. 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 B.C. LNG Alliance, to join us for a Conversation That Matters on the state of LNG in B.C.
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. Please become a Patreon subscriber and support the production of this program, with a $1 pledge at https:// goo.gl/ypXyDs