Michael Culbert is heartened when he ponders the prospects for exporting liquefied natural gas from Canada, despite a global glut of LNG that could last years.
Mr. Culbert, president of Pacific NorthWest LNG, acknowledges the challenges in the short term of making plans to build an export terminal on British Columbia’s north coast. He is hoping for approval from the Canadian Environmental Assessment Agency (CEAA), a decision that would allow the consortium to start constructing an $11.4-billion terminal on Lelu Island in the port of Prince Rupert. If construction begins in mid-2016, it will likely take four to five years to complete the facility, so exports might flow in 2020 or 2021.
Pacific NorthWest LNG, led by Malaysia’s state-owned Petronas, is well aware of analysts’ warnings of a worldwide glut of LNG from 2016 to 2019 and possibly beyond.
BRENT JANG – Globe and Mail – January 8, 2016.
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