Generating returns to investors and shareholders in energy companies is a good thing.
Despite the demand, Canada has only one operational LNG terminal.
European natural gas prices have risen more than 30 per cent since Russia invaded Ukraine.
The facility will produce 26 million tons per year of liquefied natural gas.
Last month Petronas pulled the plug on the Pacific Northwest LNG project.
British Columbia’s natural gas resources are substantial and the international market for liquefied natural gas is growing.
Canadian natural gas, sold to markets in India and Asia, could displace some of their need to generate power with coal.
The cost of regulatory delay imposed upon LNG investments in B.C. could reach C$24.8 billion per year by 2025.
The regulatory approval process for Pacific NorthWest LNG has taken more than 750 days and counting.
More than 25 First Nation communities in the province have signed LNG development agreements with project proponents.