OTTAWA, Nov. 26, 2014 – In remarks before the Senate of Canada, Alberta-elected Senator Doug Black is calling on the federal government to assess how it can create conditions to support the growth of the liquefied natural gas (LNG) sector.
“At the federal level we should consider what we can do to assist LNG development,” said Senator Black. “We must act to secure Canada’s best interests – allowing the orderly and timely development of Canada’s LNG industry.”
Senator Black highlighted the positive economic and social benefits of a thriving natural gas industry in Canada. According to the Conference Board of Canada in 2012, British Columbia’s natural gas sector could attract more than $180 billion in investment between 2012 and 2035. While B.C. would lead the other provinces, Canadian investment in natural gas could be as high as $386 billion. LNG development is necessary to achieve these investment levels.
However, the Senator noted that time is of the essence to make potential LNG projects a reality. Many projects remain in the planning stages and will not reach completion unless a favourable economic, political and social environment exists.
“Simply put, if Canada does not develop a robust LNG exporting capacity, Canadian gas will be stranded,” he said. “The U.S. does not need our gas – Asia does – so we must act to allow it’s export.”