How can BC communities and businesses get ready to seize the opportunities coming with liquefied natural gas (LNG)?
In February 2012, government released a natural gas strategy – called British Columbia’s natural gas strategy: Fuelling BC’s economy for the next decade and beyond – and a complementary strategy that focus on developing our province’s crucial new LNG sector.
Based on current plans, industry is projected to invest up to $48 billion in LNG facilities and pipelines from 2013 to 2022, diversifying BC’s natural gas sector and facilitating new economic opportunities. Construction of three large LNG facilities and more than 1,500 kilometres of pipeline could result in 1,400 long-term jobs. Indirectly, the new LNG industry will also support thousands of spin-off jobs in the fields of transportation, engineering, construction and environmental management.
In addition, developing BC’s LNG export capacity will enable our province to dramatically expand market opportunities, particularly in Asia where commodity prices for natural gas are approximately four times higher than they are in North America. BC will also increase domestic market opportunity by promoting the use of BC’s natural gas in transportation fleets, such as ferries and heavy duty trucks.