Ng infrastructure needed in Canada

[Fraser921]

Canada Set To Miss Out On A Massive LNG Opportunity

Shortly after Russia invaded Ukraine in late February, dozens of Eurozone countries pledged to heavily cut Russian natural gas imports or halt them completely as soon as they could afford to. These countries took several aggressive measures to replenish their natural gas stockpiles ahead of the winter season, including reaching a political agreement to cut gas use by 15% through next winter.

It’s, therefore, little wonder that Germany--the country’s worst hit by the Russian energy crisis-- is currently on a mad dash to secure alternate sources of gas before the onset of winter. But here’s the biggest irony of them all: Germany and Europe are more likely to secure future gas supplies from Mozambique, one of the world’s poorest nations with scant infrastructure, riddled with terrorism and located 8,140km away from Germany, than Canada, one of the biggest producers of the stuff, with more than a dozen potential LNG sites and a ‘mere’ 6,400km away.

Indeed, this might turn out to be one of the biggest missed opportunities in Canadian history considering that at current prices, just one Canadian port exporting superchilled gas could be adding nine figures to the Canadian GDP each day.

Love-Hate Relationship

Canada is the planet’s fifth largest producer of natural gas and ranks 15th in the world for proven natural gas reserves. The country’s biggest problem simply is lack of infrastructure--and political goodwill.

It’s somewhat shocking to learn that Canada does not own a single LNG export terminal, with virtually all the country’s natural gas exports delivered to the United States via pipeline.

[CreativeEquity]

It is a political hot button issue not a lack of understanding around the facts. The Trudeau administration is worse than Biden, much worse in fact, if you can believe it.

[dan_s]

Being worse than Biden takes a real effort!