A New RBC Report Speaks to Canada’s LNG Opportunity

Cynthia Leach and Yadullah Hussain's report for RBC is excellent, outlining how Canada can leverage its natural gas resources to drive economic growth and reduce global emissions. The authors argue that expanding Canada's natural gas production and exports would create new economic activity while also providing major energy importers, like Japan and Germany, access to Canada’s affordable, low-emissions natural gas. RBC presents three main recommendations for policymakers to seize this economic and environmental opportunity:

1. Increase Canadian natural gas exports to the U.S. Gulf Coast as numerous gas-exporting projects are being thought and built;
2.  Position ourselves as a strategic supplier of LNG worldwide, which would lead to global emissions reductions;
3.  Build new capacity on the Canadian West Coast to export Canadian LNG, which could attract more than $200 billion in new investments.

Asia is seen as a key long-term partner for Canadian LNG exports. However, policymakers must act quickly, as the opportunity window might not be open for long, given the competition and the ongoing changes in the global LNG market.

This report along with recent reports from the  Canadian Chamber of Commerce and the Business Council of Canada adds to the growing number of voices calling for Canada to take action on gas energy and LNG. The benefits for the environment, for our allies, for reconciliation and for Canada as a whole are clear.

The full report is available here.