Vancouver, BC - David Keane, President of the BC LNG Alliance, today detailed the challenges and the opportunities facing British Columbia's LNG industry in a keynote address to the Vancouver Board of Trade.
"The new LNG industry in British Columbia is not a forgone conclusion," said Keane
"We need to find the right balance that enables British Columbians to get fair value for their resource, while ensuring our industry can compete in world markets over the long term," said Keane
"There are challenges, but they are not insurmountable."
"It's urgent we get this right as the window of opportunity to sell BC LNG
into the global market is closing quickly," said Keane
"After 60 years of natural gas exports to the U.S., there is declining demand for our product there."
noted that companies preparing to make a Final Investment Decision do so in the context of the global LNG market and require clarity, certainty and a competitive fiscal environment that recognizes the sizeable technical and financial challenges of very large and complex projects with significant risk.
"BC has a world class resource, robust environmental protection, incredibly talented people, great education and health care systems and a stable political environment.