Varcoe: Canadian LNG projects take one major stride forward, one back abpoli yyc
That scenario played out this week.partnership between the Haisla Nation and Calgary-based Pembina Pipeline Corp.
A final investment decision on Cedar LNG is expected in the third quarter of the year. If it proceeds, the project would begin commercial operations in 2027.Article content The development would mark the third LNG facility built in the country after more than a decade of analysis and investigation, and it comes during a period of growing climate concerns and questions about global energy security.
As part of the announcement, the B.C. government also inked an agreement with Haisla Nation to find ways to reduce the project’s emissions to near zero by the end of the decade. “The choice between protecting the environment and creating good jobs is a false one. We see a better way.”Other LNG developments are also advancing. The LNG Canada project remains under construction and is more than 80 per cent complete. The US$5.1-billion Woodfibre LNG project is also moving forward.
The economics of moving its gas off of B.C.’s coast would be relatively similar to shipping product from the U.S. Gulf Coast. While it will cost about US$5.50 to $6 per million British thermal units to get its product to customers in Asia, it would tap into much higher global LNG prices.
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