Conference Board predicts LNG investment rebound despite low world prices

Report sees hope for liquefied natural gas projects on B.C. coast

CALGARY – The Conference Board of Canada says there’s still room for optimism for Canada’s liquefied natural gas export industry, despite global LNG prices that are expected to remain weak for at least the next three years.

Economist Carlos Murillo says in a report that investments in new LNG facilities around the world are expected to fall off in the next few years after about US$200 billion was spent over the past decade.

Investments are expected to fall to US$4 billion per year by 2020 but global demand will continue to grow, according to a Conference Board report, sparking a new round of spending on LNG facilities.

That’s good news for Canadian natural gas producers who have yet to see anyone commit to building an LNG export terminal in Canada despite some 20 proposals.

Last month, Ottawa conditionally approved the $36-billion Pacific NorthWest LNG project but Petronas, the Malaysian state-owned oil firm proposing the project, says it must review the conditions before going ahead.

The Conference Board says Canada’s natural gas industry is expected to post pre-tax losses of more than $1.6 billion this year after racking up losses of $1.7 billion in 2015, due to low natural gas prices throughout North America.

 

The Canadian Press

Note to readers: This is a corrected story. A previous version incorrectly spelled the name of Conference Board of Canada economist Carlos Murillo.

Just Posted

Search ends for Frances Brown

Smithers RCMP announce end to search for Brown, who went missing mushroom picking Oct. 14.

Searchers from across BC seek Frances Brown north of Smithers

Searchers from across the province look for Frances Brown who has been missing since Oct. 14.

Girls trying hockey double what was expected

Program is once a week until December and may lead to integrated teams or all-girls squads.

Fiddlers pull at the heartstrings

Photos from Oct. 14’s Alaria’s Fiddle by the Valley Youth Fiddlers.

New Hazelton attempted murder charge

New Hazelton RCMP arrested Ronald Fowler, 60. Alleged incident appears to have happened in Two Mile.

Justin Timberlake invited back to Super Bowl halftime show

A ‘wardrobe malfunction’ with Janet Jackson caused a national controversy during his last appearance

A scary box office weekend for everyone but Tyler Perry

‘Boo 2! A Madea Halloween’ scared up a healthy $21.7 million in its first weekend in theatres

Even as long-form census data returns, Statcan readies for day without it

Wednesday’s release is expected to show immigrants making up a larger share of the population

WATCH: 10,000 signatures gained to stop ‘no pets’ rental policy

Pets OK BC said about 1,700 animals were surrendered to the BC SPCA last year due to housing issues

Silver Creek reacts after remains found, man arrested

Neighbours of property where remains were found say man arrested was sweet and polite

VIDEO: Oprah Winfrey and a celebrities attend ‘B.C. Miracle Concert’

Fundraiser featured Foster, Steven Tyler, The Tenors, Matteo Bocelli, Laura Bretan, Carly Rae Jepsen

Human remains found at Silver Creek property

RCMP have been searching the property in the 2200 block of Salmon River Road for the past three days

Search ramps up for B.C. woman after dog, car found near Ashcroft

Jenny Lynn Larocque’s vehicle and dog were found in Venables Valley, but there is no sign of her

Most Read