“The new LNG industry in British Columbia is not a forgone conclusion,” Keane said. “If LNG is to be viable in this province, our industry, along with each level of government, will have to make some difficult decisions in order to cross the finish line.”
The projects proposed by the Alliance’s members is said to constitute the largest investment ever seen in B.C.
The six projects represent a total potential investment ranging in tens of billions of dollars, just for the liquefaction plants alone, according to the B.C. LNG Alliance.
The alliance goes on to say investments in pipelines and upstream production facilities would add billions more to the total.
The alliance estimates up to 4,000 new jobs could be created to construct each large-scale LNG plant, while thousands of new and permanent jobs would be required to operate the plants and support the industry.
“We need to find the right balance that enables British Columbians to get fair value for their resource while ensuring our industry can compete in world markets over the long term,” Keane said. “There are challenges, but they are not insurmountable.”
Keen added, “It’s urgent we get this right, as the window of opportunity to sell B.C. LNG into the global market is closing quickly,” said Keane. “After 60 years of natural gas exports to the U.S., there is declining demand for our product there.”
Keen noted that companies preparing to make a Final Investment Decision do so in the context of the global LNG market and require clarity, certainty and a competitive fiscal environment that recognizes the sizeable technical and financial challenges of very large and complex projects with significant risk.
“B.C. has a world class resource, robust environmental protection, incredibly talented people, great education and health care systems and a stable political environment.” Keane concluded. “Our members want to invest in British Columbia.”
Members of the Alliance include: Kitimat LNG (Chevron Canada and Apache Canada); LNG Canada (Shell Canada Energy, PetroChina, KOGAS and Mitsubishi Corporation); Pacific NorthWest LNG (PETRONAS, JAPEX, Indian Oil Corporation, Sinopec and Petroleum Brunei); Prince Rupert LNG (BG Canada); Triton LNG (AltaGas and Idemitsu Canada) and Woodfibre LNG (Pacific Oil and Gas).