On the west coast of Canada lies the natural resource-rich province of British Columbia. Well known for its mining and forestry sectors, the province is also becoming globally recognized for its vast natural gas supply. The opportunities for investment are numerous and diverse, including large facility and export developments, and investment in local companies that can provide the necessary support services. A number of large companies have already started investing in British Columbia’s LNG industry.
In the province’s largest city, Vancouver, five companies have opened offices as they assess sites, and proposals are currently being reviewed from Shell Canada, Kitimat LNG (Apache Corp/Chevron Canada) and Pacific Northwest LNG (Petronas/Progress Energy/JAPEX). JAPEX is building a new storage facility at the site of the damaged Fukushima nuclear plant and is planning to export 1.2 million tonnes of LNG annually from British Columbia. Triton LNG (AltaGas and Idemitsu Kosan) has also put a proposal forward to export up to 2.3 million tonnes of LNG from British Columbia annually.
Other companies with interest in British Columbia’s LNG are BG Group, Woodfibre LNG, Imperial Oil/ExxonMobil, SK E&S, CNOOC/Nexen, Inc./INPEX/JGC, Quicksilver Resources Canada and the Douglas Channel Energy Partnership, and an agreement was recently signed between Australia’s Woodside Petroleum, and the British Columbia government.
With the number of proposed developments in communities across the province, there are many opportunities to invest in the British Columbia companies providing the goods and services that support the large projects. Workforce training, food and beverage services, lodging and housing, transportation and logistics are essential for these developments. British Columbia is ready for the industry growth and has the capacity to meet the demand.
Although northern British Columbia has been the focus for LNG supply and shipment, companies are exploring opportunities in the south and on Vancouver Island. The province is working closely with proponents who are moving their plans forward and has worked hard to foster growth and support development.
British Columbia is also well positioned to meet growing worldwide demand for LNG with its world-class supply chain and close proximity to Asia. British Columbia’s largest ports are up to 58 hours closer to Asia than any other port in North America and the industry provides valuable and exciting opportunities for companies to invest and export one of the world’s cleanest burning fossil fuels.