Greg Rickford, Canada’s Minister of Natural Resources, announced the Government of Canada’s approval of four long-term LNG export licences for Pacific NorthWest LNG, Prince Rupert LNG, WCC LNG and Woodfibre LNG.
Minister Rickford emphasized the strategic importance of these approvals for Canada and the world. Market diversification for Canada’s natural gas remains a top priority for the Government of Canada. Canada has an abundance of natural gas and the potential to become a major global supplier of LNG.
The growing economies of Asia are obvious markets due to the short shipping distance from the British Columbia coast. A fully laden tanker leaving Canada’s Pacific Coast can reach Asia in as little as 11 days — about a month faster than a tanker leaving from the Gulf of Mexico.
Approval of these licences will allow the proponents to export up to 73.38 million tonnes of LNG per year.