(Tracy Johnson – CBC News)
The ship has already sailed in the global race to export liquefied natural gas to Asia, according to U.S. energy economist Kenneth Medlock – and Canada has missed it.
Medlock was a keynote speaker at the Canadian Energy Research Institute’s annual conference on natural gas. This year the conference was called LNG: Canada’s Last Window of Opportunity. That title reflects the simmering anxiety among natural gas producers in Western Canada that the opportunity to sell their natural gas to Asia is slipping away
The anxiety is well-founded, according to Medlock. “We don’t see any LNG exports from Canada until almost 2040,” he said in an interview. Medlock expects almost all new LNG supply to come from the United States or Australia.
The largest issue is cost. Canadian projects are greenfield, meaning they are being built from scratch. In the U.S., multiple projects are conversions of existing LNG import terminals that already have ports built and pipelines attached. They simply need to be converted so they can export instead of import. Click here to read more.