Petronas-led LNG decision is B.C.’s loss, but “LNG window” not closed: B.C. Chamber of Commerce

THE Petronas-led decision to not proceed with building its Pacific NorthWest Liquid Natural Gas (PNW LNG) terminal in Port Edward is a loss for British Columbia – but the window is not closed. Liquid natural gas projects are possible in B.C., says the B.C. Chamber of Commerce.

Although market conditions will always determine the ultimate viability of a project, to help “get to YES”, B.C.’s emerging LNG industry is committed to meeting the highest environmental and regulatory standards in the world. However, timing will be critical to ensure B.C. can realize the thousands of jobs and billions of dollars in benefits that will come from a sustainable LNG industry.

Premier John Horgan’s “four conditions” that all LNG proposals must meet, as laid out in the recent mandate letter to the Minister of Energy, Mines, and Petroleum Resources, are supported by the B.C. Chamber of Commerce. Indeed, the BC Chamber of Commerce sees the conditions as essential guidelines, not obstacles on our way to creating a world-class LNG industry.

“The decision to not proceed with the Pacific NorthWest LNG terminal is a loss for B.C., but there is still a window of opportunity to build a world-leading LNG industry,” said Val Litwin, President and CEO of the BC Chamber of Commerce. “A LNG industry would not only help to secure a strong economic future of our province, but it would also provide a boost to the Canadian economy as we look to export clean energy to global markets.”

The BC Chamber of Commerce says that it will continue to keep its focus on ensuring British Columbian’s understand the benefits that will come from a sustainable LNG industry that meets only the highest standards.