LNG Canada an­nounces 40 bil­lion dol­lar in­vest­ment that will lead to 10,000 mid­dle class jobs

Asian Journal - - OPINION EDITORIAL -

Ottawa: Canada is a coun­try that un­der­stands that en­vi­ron­men­tal lead­er­ship and eco­nomic growth go hand-in-hand. With modern in­fra­struc­ture and cleaner tech­nol­ogy to get our re­sources to new mar­kets, we can di­ver­sify our trade, grow our econ­omy, and cre­ate good, well-pay­ing jobs for mid­dle-class Cana­di­ans.

The Prime Min­is­ter, Justin Trudeau, wel­comed LNG Canada’s de­ci­sion to build a ma­jor liq­ue­fied nat­u­ral gas (LNG) pro­ject in Kiti­mat, Bri­tish Columbia. The $40-bil­lion pro­ject rep­re­sents the largest pri­vate sec­tor in­vest­ment pro­ject in the his­tory of the coun­try, which will:

• Cre­ate 10,000 jobs at the height of con­struc­tion;

• Lead to bil­lions of dol­lars in di­rect gov­ern­ment rev­enues; and • In­clude hun­dreds of mil­lions of dol­lars in con­struc­tion con­tracts for Indige­nous busi­nesses. In ad­di­tion, the Prime Min­is­ter an­nounced $275 mil­lion in fed­eral sup­port, as well as a com­mit­ment that trade bar­ri­ers will not get in the way of this gen­er­a­tional pro­ject.

The largest in­fra­struc­ture pro­ject of its kind in Canada, it will in­clude nat­u­ral gas liq­ue­fac­tion fa­cil­ity, a pipeline, and a marine ter­mi­nal to ex­port sur­plus Cana­dian nat­u­ral gas to some of the world’s fastest grow­ing economies in Asia.

Once built, it will have the low­est car­bon in­ten­sity of any largescale LNG fa­cil­ity in the world. “To­day’s an­nounce­ment by LNG Canada rep­re­sents the sin­gle largest pri­vate sec­tor in­vest­ment pro­ject in Cana­dian his­tory. It is a vote of con­fi­dence in a coun­try that rec­og­nizes the need to de­velop our en­ergy in a way that takes the en­vi­ron­ment into ac­count, and that works in mean­ing­ful part­ner­ship with Indige­nous com­mu­ni­ties,” said Justin Trudeau, Prime Min­is­ter of Canada.

Quick facts

• Glob­ally, Canada is the fourth largest pro­ducer and fifth largest ex­porter of nat­u­ral gas. The value of Cana­dian net ex­ports (ex­ports mi­nus im­ports) was $6.7 bil­lion in 2017.

• The LNG Canada fa­cil­ity will be built in Kiti­mat, B.C. Con­struc­tion is ex­pected to be­gin in 2018, with the ter­mi­nal in ser­vice by 2024.

• At full ca­pac­ity, the ter­mi­nal will con­vert and ex­port as much as 26 mil­lion tons of liq­ue­fied nat­u­ral gas per year, pri­mar­ily to Asia. This rep­re­sents roughly 20 per cent of over­all gas pro­duc­tion in Canada.

• Prime Min­is­ter Trudeau met with Royal Dutch Shell senior ex­ec­u­tives in China and at the World Eco­nomic Fo­rum in Davos, Switzer­land. More re­cently, he met in New York with Chief Ex­ec­u­tive Of­fi­cer Ben van Beur­den where they dis­cussed how to ad­vance en­ergy projects that are both good for Canada’s econ­omy and the en­vi­ron­ment.

Justin Trudeau

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.