Alberta Business Calendar: A push for LNG
Natural gas prices are hovering around a three year low, making for tough times in the Canadian industry. With the shale gas revolution, there is a supply glut in North America.
The best hope for western producers is to liquify Canadian natural gas and ship it to Asia where prices are much higher.
There has been a global race to build LNG facilities and so far Canada is behind. There are LNG facilities operating in Australia and under construction in the United States.
On Oct. 14 and 15, British Columbia will hold an LNG conference in Vancouver, at which Premier Christy Clarke and other government officials will continue to push for investment in LNG facilities.
Pacific Northwest LNG's chief executive, Michael Culbert, will be there as well. That project, slated to be built in Prince Rupert, is closest to receiving the final go-ahead, waiting for environmental approval from the federal government after the election.
There is concern that Canada may have lost the LNG race. This week, B.C. will make the case that it's not too late. Alberta's natural gas industry certainly hopes that B.C. is right.
