A new report from Clean Energy Canada, which is part of the Morris J. Wosk Centre for Dialogue at Simon Fraser University, examines what could happen if the LNG industry in British Columbia keeps expanding.
“For the last 15 years, proponents have touted B.C. LNG as a cleaner substitute for coal in Asian power plants that would lower global emissions while growing B.C.’s economy. The LNG industry points to the province’s abundant natural gas reserves, proximity to Asian markets, and the ability to produce LNG with fewer carbon emissions than its competitors as reasons why B.C.’s LNG industry is positioned for takeoff.
“But the world is a very different place in 2024 than it was in 2009, and cracks are showing in this rosy picture. While the province’s LNG industry is set to begin exports next year, bringing jobs and opportunities to some B.C. communities, the reality is that in the coming years the world may no longer need B.C.’s LNG. And betting the province’s economy on the fossil fuel may instead deliver rising gas and electricity prices for families while worsening climate change by locking out cleaner, cheaper energy sources.
“As it stands, B.C.’s nascent LNG industry comprises six projects at various stages of development, with two under construction and currently slated to begin operation in 2025 and 2027. Our new report, An Uncertain Future, explores the risks of further LNG development to the province’s economy, B.C. ratepayers and taxpayers, and efforts to reduce global emissions.”
Read the full report published March 25, 2024.
