The Globe and Mail reports in its Friday, Oct. 3, edition that massive private investments in the rapid build-out of LNG terminals and pipelines have turned the United States into the world's largest exporter. The Globe's Tony Keller writes that Canada, the fifth-largest natural gas producer, was late to the LNG party, with exports remaining at zero while the U.S. rose to the top of the charts. That is finally starting to change. The LNG Canada facility in Kitimat, B.C., began shipping cargoes earlier this year. Several other such projects are at various stages of development.
In September, when Prime Minister Mark Carney announced five major projects prioritized for regulatory fast-tracking, Phase 2 of LNG Canada was the first item on his list.
The good news for Canada is that there remains considerable demand for natural gas in Europe and Asia. That demand is reflected in high prices.
The debate on whether Canada should build more oil pipelines is set to dominate political discussions. Following the success of the Trans Mountain pipeline expansion, which Ottawa had to purchase and construct amid delays and cost overruns, there is a push for further developments as it delivers substantial returns.
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