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We are missing opportunities to be the leader in sustainable and environmentally complined energy sulppier. Whether there were long term contract offers by India and China in early 2010s or local oil produce transfer fron Alberta to East Cost. Our southern neighbour made massive investments in LNG sector and is now the key global stakeholder; where we are standing?

🇨🇦💰 Using up scarce clean electricity for LNG export operations is a "gamble" B.C. can ill-afford, says Clean Energy Canada's Stefan U. Pauer, PhD. Our recent report in Gas Outlook 👇 #bcpoli #cdnpoli #LNG #energytransition

The rapid expansion of the global LNG market could lead to a huge oversupply, thereby driving down gas prices dramatically over the next decade. IEA predicts that the price of gas imported into the EU could fall from a record average high of over $70 per MBtu in 2022 to just $6.50 by 2030. However, this does not appear to be deterring many of the developers building these new projects, who expect demand to remain high as gas is used globally as a ‘transition fuel’.

Massive LNG Expansion Expected Worldwide Despite Green Transition The global LNG market is experiencing a significant expansion, driven by the energy crisis and increased demand for natural gas as a transition fuel. This rapid expansion could lead to oversupply and lower gas prices in the future, raising concerns about the economic viability of new projects. While LNG is often touted as a cleaner alternative to coal, the environmental impact of increased gas production and consumption remains a significant concern. https://lnkd.in/ehNmJs7j

#Methane #NaturalGas #LNG #SunkCosts #Canada #LNGCanada #Shell #Petronas #PetroChina #KoreanGasCorporation #MitsubishiCorporation "Liquefied natural gas projects in British Columbia are facing renewed criticism after a market forecast study released Thursday found every proposed project is at risk in any energy transition scenario. According to the researchers from U.K.-based Carbon Tracker, global markets for LNG are likely to be oversupplied by the end of the decade, creating a glut. Because B.C. LNG production is expected to ramp up at precisely the same time global production plateaus, the province “will not have a first mover advantage, and its output will be competing in a highly competitive global market.” On top of that, B.C. LNG is expected to be more expensive compared to many other jurisdictions, further undermining its business case. “Policymakers in B.C. should be aware that long term fiscal revenue streams from LNG are far from guaranteed,” the report found. “Large-scale investment in LNG carries an opportunity cost versus investing in a clean energy system which would generate long-economic growth as the energy transition accelerates.” The findings are expected to increase pressure on the provincial government, which kickstarted its LNG industry in 2017 when then-premier John Horgan persuaded LNG Canada to build a $40-billion export terminal in Kitimat (that price tag includes both Phase 1 and 2 of the project). To convince the project's owners (Shell, Petronas, PetroChina, the Korean Gas Corporation and Mitsubishi Corporation) to proceed, the provincial government offered $6 billion over 40 years in tax and regulatory relief, with the expectation it would receive $22 billion in revenue over the same period. But for the climate wing of the party, LNG dreams have always been viewed as wrongheaded due to the intense greenhouse gas pollution, and recent investigations have found LNG is even worse than anyone knew. When in operation, LNG Canada will become the province’s single largest emitter.  ... Asian countries looking to get off coal are the target customers for B.C. LNG exports. But a growing body of evidence indicates that the methane and transportation emissions also produced by the Canadian LNG industry may actually cause higher emissions than burning coal. Similarly, pro-LNG advocates often claim LNG would displace coal, while critics say it could just as easily displace clean alternatives by locking customers into long-term LNG contracts.  ..."

Massive LNG Expansion Expected Worldwide Despite Green Transition - driven by the energy crisis and increased demand for natural gas as a transition fuel. This rcould lead to oversupply and lower gas prices in the future

The U.S. LNG industry is navigating choppy waters as it grapples with regulatory challenges, rising costs, and environmental pressures. What's next for this critical energy sector? The U.S. Liquefied Natural Gas (LNG) industry, once a global leader in exports, is now facing significant challenges that are slowing down its growth. Major projects like NextDecade's Rio Grande LNG and the Golden Pass LNG are experiencing delays due to legal battles and contractor issues. Environmental activists are raising concerns about the impact of these projects, leading to regulatory hurdles that are difficult to overcome. Adding to these challenges are rising costs and the difficulty in securing long-term investors, making it even harder to move forward with new LNG projects. Despite strong global demand for LNG, the U.S. industry's future is uncertain, with growing pressure from environmental groups and increasing financial difficulties. As the world continues to seek cleaner energy alternatives, the U.S. LNG sector must find a balance between growth and sustainability. The question remains: Can the industry adapt to these challenges and continue to play a crucial role in the global energy market? For more details read: https://lnkd.in/gZA2QqSg #LNG #EnergyTransition #Sustainability #USEnergy #EnvironmentalImpact #CleanEnergy

The energy needs of an “always on” economy are growing – massively – and the liquefied natural gas (LNG) sector in North America is evolving and growing to meet those needs. Amid a U.S. permitting freeze, Canada and Mexico are generating significant interest from investors, potentially channeling tens of billions into their LNG export industries. This shift presents a strategic opportunity to meet the rising demand in the Asian market and contribute to a more diverse, global energy supply. With collaborative energy policies North America's dynamic energy sector can meet rising energy demand. Read more from Financial Times: https://lnkd.in/easCKsKX #LNG #EnergyIndustry #NorthAmericanEnergy

The International Energy Agency (IEA) must be wondering what in the world is going on with American liquefied natural gas (LNG) exports. In a recent agency report, "Global Gas Security Review 2024," finds that global demand for natural gas is rapidly increasing, exceeding the average growth rate between 2010 and 2020 and demand likely will reach all-time highs this year and next. Yet, IEA says natural gas supply that would meet that demand is "fragile" because there has been limited LNG production growth. #iea #lng #demandandsupply #globalgas #trade #naturalgas #exports

A new Wood Mackenzie study commissioned by the Asia Natural Gas & Energy Association warns that the U.S. moratorium on new liquefied natural gas (LNG) export approvals could slow Asia's shift from coal to cleaner energy. With the United States positioned to supply a third of global LNG by 2035, halting new projects could drive up prices and leave buyers scrambling for alternatives. #lng #naturalgas #export #asia #globaltrade