Canadian liquefied natural gas projects looking to fill gaps in the global market left by the absence of Russian gas may run into more challenging conditions than expected, industry experts have told a global conference in Vancouver.
Canadian liquefied natural gas projects looking to fill gaps in the global market left by the absence of Russian gas may run into more challenging conditions than expected, industry experts have told a global conference in Vancouver.
"I guess the caveat is, if any European player is entering into a long-term contract irrespective of the portfolio benefits, let's just make sure that we have enough flexibility in that deal to where we can take it to Asia or some other market, in case we're faced with a situation like stranded gas," Abdo said.
He said high prices pushed Pakistan to abandon plans to buy natural gas and instead quadruple commitments to coal, and similar trends are happening in Indonesia, Thailand, Vietnam and the Philippines. Klein said the $40-billion LNG Canada export facility in Kitimat, B.C. — the only one of its kind to reach the construction stage on the Canadian West Coast — is about 85 per cent complete and is scheduled to begin exports by"mid-decade."
But Muhammad Taufik told the conference that each market has unique dynamics, and Canadian LNG's emphasis on environmental and social standards has a market in many Asian countries. "When President Xi made that speech at the UN, that wasn't just a speech," Martin said."That was an order."
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