Start of the Shell-backed 14 million mt/year LNG Canada project in 2025 will provide the impetus for new investments in British Columbia and its hinterland, as Asian buyers target Canada for its low-carbon LNG at a time of “unprecedented global energy crisis,” a senior industry official said Oct. 25.
A number of Asian embassies, and Japan in particular, have been talking to Canadian industry players about securing supplies and “are saying we want you in the market and we want your product,” Timothy Egan, President of the Canadian Gas Association, told S&P Global Commodity Insights in an interview from Ottawa.
All four Canadian LNG projects in British Columbia – the 14 million mt/year LNG Canada, the 12 million mt/year Ksi Lisims, the 3 million mt/year Cedar LNG and the 2.1 million mt/year Woodfibre – that are at various stages of development are targeting to be within the provincial government benchmark of carbon intensity levels of 0.16 mtCO2e.
For Canadian producers besides being in line with stringent federal government regulations on greenhouse gas emissions, the expectation is also of their low-carbon intensity fetching a ‘price premium’ with Asian buyers.
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