Can B.C. LNG producers compete in an ‘uncertain’ global market?

Since B.C. began its push more than 10 years ago to develop a liquefied natural gas industry, environmental groups and the BC Green Party have warned that the province could end up with stranded assets in a decarbonizing world weaning itself off of fossil fuels.

“The demand and supply picture is not looking favourable for B.C. LNG,” said Stefan Pauer, report co-author and manager of technology and economic analysis at Clean Energy Canada. “And betting the province’s economy on the fossil fuel may instead deliver rising gas and electricity prices for families while worsening climate change by locking out cleaner, cheaper energy sources.”

Clean Energy Canada’s report notes that Japan, South Korea and China are expected to be the biggest markets for B.C. LNG exports. But it notes that demand for LNG in Japan has been falling, partly due to Japan’s reversal on nuclear power. It also notes that China—which recently surpassed Japan as the world’s largest importer of LNG—has begun to experience slower-than-expected economic growth.

For the Asia Pacific, the projections vary from an increase of 130 per cent to a decline of 40 per cent by 2050 compared to today. Much depends on how many countries adopt and meet net-zero climate change policy targets.“Global LNG export capacity is anticipated to increase by 43 per cent from today by the end of the decade, just as B.C.’s export projects are planned to come online,” the report notes.

The Gas Exporting Countries Forum also recently produced its annual global gas outlook that looks out to 2050. “All these really small countries, which are marginal gas buyers now, are expected to grow pretty significantly,” Archer said. “In fact, we have it growing by five or six times.” “One thing LNG providers like to point out is that Canadian LNG has a lower carbon footprint than most other LNG,” Archer said. “So even in a declining market like Japan, if Japan puts a premium on green LNG, there is a market share that Canada could capture here.

B.C. LNG producers will be competing with producers in Australia, Qatar, Malaysia and the Middle East that don’t have to meet similar requirements.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Can B.C. LNG producers compete in an ‘uncertain’ global market?A new report questions the cost of electrifying B.C.’s growing LNG industry as global export capacity rises and potential importers shake up their energy mix
Herkunft: BurnabyNOW_News - 🏆 14. / 77 Weiterlesen »

TikTok bill faces uncertain fate in the Senate as legislation to regulate tech industry has stalledWASHINGTON (AP) — The young voices in the messages left for North Carolina Sen. Thom Tillis were laughing, but the words were ominous. “OK, listen, if you...
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »

Greek PM fuels debate for expanding Canadian LNG as Ottawa promotes renewable energy industryFederal government cool to idea of new plants on east coast, questioning viability and pushing cleaner energy alternatives
Herkunft: globeandmail - 🏆 5. / 92 Weiterlesen »

Doing business in China is growing tougher, more uncertain, European business group saysBEIJING (AP) — Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, a report by a European business group...
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »