Special Report-Canada Aims to Speed Up Two LNG Projects on the East Coast
- May 9, 2022
- Posted by: Quatro Strategies
- Category: Energy
Canadian Natural Resources Minister Wilkinson said the government is discussing with Repsol and Pieridae Energy, which are behind two proposed east coast LNG export facilities, to speed up the projects and help increase LNG supplies to Europe.
Wilkinson said the government was looking at Spanish company Repsol’s LNG facility in New Brunswick and the Goldboro LNG facility in Nova Scotia proposed by Pieridae Energy.
Europe has been looking for alternative supplies after Russia’s invasion of Ukraine and the subsequent Western sanctions disrupted oil and gas supplies. Canada has held talks with European countries about ways to boost energy exports to the continent.
However, Canada, the world’s sixth-largest natural gas producer, does not have any east coast LNG facilities and only one under construction on its west coast.
Wilkinson said the government has been looking at things it can do to speed up one or both of the projects in a manner that’s compliant with Canada’s environmental targets and long term transition to a lower carbon future.
Pieridae is proposing a 2.4 megatonne per annum floating export facility.
The company has confirmed that it has held talks with the government about an LNG export facility.
Pieridae also stated that it has a solution for supplying Europe with much needed natural gas and it was capable of doing that with a net zero emission LNG export facility.
Wilkinson underlined that if the projects were given a green light, they would have to use clean electricity in the liquefaction process and have the ability to eventually transition to exporting hydrogen.
He added that the C$10 billion Énergie Saguenay LNG project, which both the Quebec and federal governments rejected on environmental grounds, was unlikely to be revived.
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