Canada’s LNG Opportunity: A Value Proposition Worth Celebrating
For immediate release
June 19th, 2023
(Ottawa, ON) Energy for a Secure Future (ESF) announces the launch of its second paper titled Canada’s LNG Opportunity: A Value Proposition Worth Celebrating.
The paper presents the compelling case for Canadian liquefied natural gas (LNG) and its potential to provide significant environmental, social and economic benefits to Canada and its allies.
Since 2000, global natural gas consumption has grown by 68% – more than any other major hydrocarbon fuel source. This growth accelerated following the outbreak of war in Europe and the push to exclude Russian natural gas supply. Countries around the world are seeking new energy partners – to bolster their energy security and to support their environmental goals. Many have come to Canada seeking to secure supply, and with at least an additional 1,373 trillion cubic feet of natural gas resources available for production, we are well positioned to help meet the need.
Canadian LNG projects – including LNG Canada, Cedar LNG and Woodfibre LNG - are world-leading from an emissions intensity perspective. LNG produced on Canada’s West Coast would create 65% fewer greenhouse gases than coal when used to generate electricity. For Canada, the economic benefits of all proposed projects moving forward include $10.2 billion in annual GDP, $3.6 billion in annual government revenues, and 77,600 jobs across the country. Particularly noteworthy is the high level of Indigenous engagement - as partners and owners - in projects: a clear demonstration of how economic reconciliation can be achieved through the realization of Canada’s LNG opportunity.
As the paper makes clear, Canada’s success in capturing the full value proposition of LNG will require: (1) taking a full value proposition approach to LNG; (2) Creating and nurturing an effective, timely and predictable regulatory framework for advancing LNG projects; and (3) working with allies and other potential energy customers in Europe and Asia to recognize and credit Canada for the environmental benefits of Canadian LNG export to international markets.
“The unionized trades and construction workers have been involved in the natural gas industry in Canada since its inception. When it comes to LNG, we can expand the resource that we have in Canada and provide more economic opportunity not only for our members but help decarbonize other countries on the planet.”
Sean Strickland, Executive Director, Canada’s Building Trades Unions
“Natural gas is the solution to substantially reducing emissions in Asia through the displacement of coal and Canada is the source of some of the cleanest natural gas fuel on the planet. We have a very important role in helping countries with transition by supplying clean natural gas.”
Dominic Barton, Chair, Rio Tinto
“Canadian LNG presents a compelling case of how to meet global energy, environmental, affordability, and security needs. It also helps advance economic prosperity and other social goals in Canada, including Indigenous reconciliation. What is needed is the right level of focus and support from governments to take advantage of this opportunity."
Shannon Joseph, Chair, Energy for a Secure Future
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Energy for a Secure Future
About Council for Secure Energy Future:
Energy for a Secure Future is a non-partisan civil society initiative that brings together Canadian Indigenous peoples, business leaders, organizations, and experts in a new conversation about energy and building a secure future for Canada and our allies around the world.