Access to LNG Export Market “Vital” to Canadian Gas Producers
The Canadian Association of Petroleum Producers has released a report concluding that Canadian gas producers must have access to global LNG markets to avoid a decade of decline in natural gas production. According to the press release, “U.S. natural gas supplies are displacing western Canadian gas in the traditional markets of Central Canada, the U.S. Midwest and U.S. Northeast” and, without access to global LNG markets to stimulate Canadian gas production, production is projected to “decline steadily over the next 10 years, then remain flat at about 13 [Bcf/day] until the end of the current forecast period in 2030.” The report calls for “prompt regulatory approvals and a commitment to competitiveness” to attract the investment dollars needed to build LNG export infrastructure. Read more in The Globe and Mail article.