The Globe and Mail reports in its Saturday edition that AltaGas chief executive officer Vern Yu is hoping that Canada will take advantage of a second chance to become one of the global leaders in liquefied natural gas exports. The Globe's Brent Jang writes that Mr. Yu believes Canada could diversify its economy by further tapping into massive reserves of natural gas. AltaGas and Royal Vopak of the Netherlands are planning to open their Ridley Island export facility near Prince Rupert, B.C., that would ship liquefied petroleum gas such as propane to Asia by the end of this year. The new facility is situated next door to the propane-export terminal that AltaGas and Vopak opened in 2019. "The big thing is Asia is the biggest growth market for energy," Mr. Yu told The Globe. "Asia is a huge opportunity for Canada as a whole to provide energy to, whether it's crude oil, natural gas or natural gas liquids. It's a very robust market and there's lots of demand there." Woodfibre LNG near Squamish and Cedar LNG in Kitimat are under construction in B.C. The only LNG export terminal running so far in Canada is the Shell-led LNG Canada project in Kitimat, B.C.; the United States has opened eight LNG export terminals since 2016.
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