it responsibly. And that Canada is a part of it.”
Construction on the project is set to being “immediately”, accord-
ing to LNG Canada CEO Andy Calitz, with the terminal scheduled
for service by 2024.
“We are looking at $23 billion in revenue for B.C.,” said Michelle
Mungall, B.C. Energy Minister. “We are looking at 10,000 jobs
throughout the North. This is a huge economic opportunity for
B.C.”
Globally, Canada is the fourth largest producer and fifth largest
exporter of natural gas. The value of Canadian net exports in
2017 was $6.7 billion. At full capacity, the terminal will convert
and export as much as 26 million tons of liquefied natural gas per
year, primarily to Asia, representing roughly 20 per cent of overall
gas production in Canada.
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 a 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 large-scale LNG facility in the
world.
NOVEMBER 2018 | BUSINESS ELITE CANADA 19
