“The continued growth of our economies depends on foresight and partnership,” Premier Christy Clark said. “With our dependable, abundant supply of natural gas and China’s need for new sources of energy, we have an opportunity like never before to work together and develop a strong, competitive LNG industry.”
The MOU is said to emphasize the development of an LNG industry and the benefits it will create for both B.C. and China.
This includes the reduction of China’s global carbon emissions with the use of B.C. natural gas – reportedly the world’s cleanest burning fossil fuel.
“Strengthening relationships with our trade partners in China creates unprecedented growth opportunities for our province’s natural gas sector,” Minister of Natural Gas Development, Rich Coleman said. “Working together will accelerate LNG development and job creation in British Columbia and help China reach its need for a new energy supply.”
B.C. and China also have plans to increase the exchange of energy-related information; expedite networking opportunities for business leaders, researchers and government agencies; and encourage industry to explore investment and mutually beneficial development.
The Government of British Columbia says their attempting to strengthen global ties to attract new investment, increase trade and create jobs at home.
“As the world’s largest energy consumer, China continues to look to B.C. for its abundant, stable energy supply and our government’s representatives in Asia played a key role in advancing negotiations with China’s National Energy Administration,” Minister of International Trade, Teresa Wat said.
With 16 LNG export proposals now in the province, B.C. is said to be poised as a leading energy supplier for China and Asia’s growing economies.
The Government of British Columbia also says the development of an LNG industry will result in unprecedented economic growth and has the potential to create more than 100,000 jobs.
China is Asia’s largest economy and fastest growing market for new energy.