{"id":82093,"date":"2018-11-05T05:52:00","date_gmt":"2018-11-05T06:52:00","guid":{"rendered":"https:\/\/resourcework2.devstudio.work\/?p=82093"},"modified":"2024-11-16T03:42:14","modified_gmt":"2024-11-16T03:42:14","slug":"lng-history","status":"publish","type":"post","link":"https:\/\/resourcework2.devstudio.work\/?p=82093","title":{"rendered":"BC LNG offers \u2018historic\u2019 benefits"},"content":{"rendered":"\n

We still get the giggles about BC Green Party leader Andrew Weaver\u2019s statement in March this year: \u201cI\u2019ve been saying for four years, there is no market for LNG.\u201d<\/p>\n\n\n\n

Yep, no market; that would explain why the joint-venture partners in LNG Canada at Kitimat are putting up $40 billion of their own money, having already secured some Asian buyers.<\/p>\n\n\n\n

And why Woodfibre LNG is planning to begin construction in the first quarter of 2019, also having lined up some Asian sales.<\/p>\n\n\n\n

And why the International Energy Agency sees healthy future world demand for natural gas and LNG: \u201cChina alone accounts for a third of global demand growth to 2022 thanks in part to the country\u2019s \u2018Blue Skies\u2019 policy and the strong drive to improve air quality.\u201d<\/p>\n\n\n\n

In contrast to politician Weaver, it\u2019s good to see the more realistic and professional approach taken by economist Philip Cross<\/strong>.<\/p>\n\n\n\n

Getting ready to present to a Resource Works lunch event in Vancouver on Nov. 14<\/a>, Cross took a look at the various inputs, including a new gas pipeline and additional natural gas sourcing in the BC’s North East, that will be required to supply the project. (The Coastal GasLink pipeline project, by the way, has support from all 20 of the elected councils of First Nations along the 670-km route from the Dawson Creek area to Kitimat.)<\/p>\n\n\n\n

Cross is former chief economic analyst for Statistics Canada, and is senior research fellow for Resource Works. He says LNG offers BC “historic benefits.”<\/p>\n\n\n\n

On Nov. 14, he will update and expand on the \u2018High Impact\u2019<\/a> study he performed for Resource Works, measuring the impact of the natural-resource economy in BC.<\/p>\n\n\n\n

He\u2019ll tell our Nov. 14 event that BC\u2019s natural resources generated $24.2 billion of income and GDP, up from $21.4 billion, and have created more jobs. And all this means increased GDP for Canada\u2019s economy as well.<\/p>\n\n\n\n