BIV – Future LNG industry could be worth $5.3b per year to B.C. economy: Conference Board

By Carter Haydu/Daily Oil Bulletin

British Columbia’s LNG sector, if developed, could add $7.4 billion per year over the next three decades to the Canadian economy, of which $5.3 billion would occur in B.C., according to a Conference Board of Canada report released February 29.

“There is a huge opportunity for investment, for economic growth, and for employment at a time when Canada needs all three of those. The risk for not going forward is that you miss that opportunity,” Len Coad, public policy research director, told the Bulletin on Monday.

The report, entitled A Changing Tide: British Columbia’s Emerging Liquefied Natural Gas Industry, considers an LNG industry of three hypothetical projects coming into service between 2021 and 2025, consisting of two larger-scale projects that include two liquefaction trains with a capacity of approximately six million tonnes per annum (mtpa) each, as well as a smaller-scale project that includes a single train with a five to six mtpa capacity.

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