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Edmonton Journal
5 days ago
- Business
- Edmonton Journal
Varcoe: From no business case to promoting LNG — gas producers welcome Ottawa's new support for growing sector
Like a stone skipping across calm water, it didn't take long for comments by Federal Natural Resources Minister Tim Hodgson touting the benefits of Canadian liquefied natural gas to ripple through the energy sector. Article content Canada's LNG is cleaner than competing U.S. suppliers and there are interested buyers for it, Hodgson said Tuesday on the Vassy Kapelos Show. Article content Article content Article content For Peyto Exploration & Development CEO Jean-Paul Lachance, having the federal minister in charge of energy actively promote LNG exports from Canada — and potentially include these initiatives on Ottawa's new major projects list under Bill C-5 — is telling. Article content 'The fact we're hearing that from our own government now, the federal government, is a very positive sign. It's a long way from, 'There's no business case for LNG,' which we heard from the previous government,' Lachance said in an interview Wednesday. Article content 'That gives me some confidence that there's going to be some support for LNG projects within Canada . . . It sends the right signal to the capital markets that we're open for business here.' Article content The Carney government recently passed Bill C-5 as it seeks to expedite approval of major infrastructure deemed to be of national significance. It's now consulting over which projects should make the cut. Article content Article content The Alberta government and many industry leaders are pushing for the list to include a major export pipeline to ship more oil to the West Coast, although no proponent has made a formal project proposal. Article content Article content The prospects for new LNG projects being included on the list appear strong and could provide a shot in the arm for western Canadian natural gas producers to attract new investment and boost output. Article content The colossal Shell-led LNG Canada terminal began moving first cargoes to customers this summer, launching a new energy export sector for the country.
Calgary Herald
5 days ago
- Business
- Calgary Herald
Varcoe: From no business case to promoting LNG — gas producers welcome Ottawa's new support for growing sector
Like a stone skipping across calm water, it didn't take long for comments by Federal Natural Resources Minister Tim Hodgson touting the benefits of Canadian liquefied natural gas to ripple through the energy sector. Article content Canada's LNG is cleaner than competing U.S. suppliers and there are interested buyers for it, Hodgson said Tuesday on the Vassy Kapelos Show. Article content Article content Article content For Peyto Exploration & Development CEO Jean-Paul Lachance, having the federal minister in charge of energy actively promote LNG exports from Canada — and potentially include these initiatives on Ottawa's new major projects list under Bill C-5 — is telling. Article content Article content 'The fact we're hearing that from our own government now, the federal government, is a very positive sign. It's a long way from, 'There's no business case for LNG,' which we heard from the previous government,' Lachance said in an interview Wednesday. Article content 'That gives me some confidence that there's going to be some support for LNG projects within Canada . . . It sends the right signal to the capital markets that we're open for business here.' Article content The Carney government recently passed Bill C-5 as it seeks to expedite approval of major infrastructure deemed to be of national significance. It's now consulting over which projects should make the cut. Article content Article content The Alberta government and many industry leaders are pushing for the list to include a major export pipeline to ship more oil to the West Coast, although no proponent has made a formal project proposal. Article content Article content The prospects for new LNG projects being included on the list appear strong and could provide a shot in the arm for western Canadian natural gas producers to attract new investment and boost output. Article content The colossal Shell-led LNG Canada terminal began moving first cargoes to customers this summer, launching a new energy export sector for the country.
