British Columbia is looking to Asian markets to push LNG exports.
Deputy Premier Rich Coleman is going to meet with the Malaysian chief executive officer of Petronas next week to discuss details of the potential trade partnership.
Make no mistake, the big push behind LNG could be a boon for British Columbia’s economy, and industry experts are seeing a huge opportunity for growth ahead.
In fact, Coleman plans to have meetings in Singapore and Japan in order to establish ties and business deals for the LNG exports.
But let’s not forget the other side…
There’s been a strong, ongoing protest among environmental activists and those of the First Nations ever since these LNG projects were announced.
Their concerns are over potential environmental damage primarily in the Flora Bank area, where Pacific NorthWest LNG plans to build an $11.4 billion export terminal.
Mayor Garry Reece of Lax Kw’alaams claims that Flora Bank is too sensitive of an area to put any industry, and he is quite concerned for the wildlife there. There have been issues with Petronas there in the past, and Reece wants to keep the peace.
Still, there are already 20 proposals in BC about LNG, but it’s difficult to imagine how any of them could stay afloat for a long period of time, largely due to falling prices in Asia, a drop in supplies, and global competition.
Coleman remains confident, as he claims to be seeing “steady progress” by international players.
For now, he’s patiently working and remaining optimistic about the future of LNG.
To continue reading…
Until next time,
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