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The Canadian energy industry expects China's demand for liquefied natural gas to increase significantly. This will bring huge business opportunities to British Columbia, which has abundant natural gas resources in western Canada.
At the press conference in Vancouver on the 25th, British Natural Gas Group Canada Company’s acting president, Steve Swofffield, said that as China gradually shifted from relying on thermal power to cleaner energy, they saw opportunities.
Swallowfield said that China has a strong desire for the development of clean energy business. China's economic growth is so fast that the demand for liquefied natural gas is expected to double in the future.
Statistics from the British Columbia government show that the province currently produces 1.2 trillion cubic feet (34.3 billion cubic meters) of natural gas per year. If the province's plans for the development of LNG are implemented, it is expected that 1.9 trillion cubic feet (54.3 billion cubic meters) of production will be added each year by 2020.
The British Columbia government’s support for the development of liquefied natural gas has encouraged the industry’s confidence. Swallowfield said that his company is currently studying the feasibility of building a liquefied natural gas plant and export transfer station in Prince Rupert, northern British Columbia, and has already reached a cooperation agreement with North American oil pipeline company Spectra Energy. He expressed the hope that China will also become a powerful partner in the development of this project.
A report issued by the famous think tank Canada’s Advisory Board in December last year stated that Canada’s potential to become the world’s second largest exporter of liquefied natural gas in the near future will be driven by demand from emerging markets.