What B.C.'s LNG megaproject means for two proposed Nova Scotia facilities
Some see it as a signal of investor confidence in liquefied natural gas megaprojects. Others say it could edge out less competitive LNG proposals in Canada.
Either way, final approval of a massive LNG project in northern British Columbia has renewed interest in the fate of two projects slated for Canada's East Coast.
Bear Head LNG, a subsidiary of Australia-based Liquefied Natural Gas Ltd., has a site on the Strait of Canso while Goldboro LNG, a Pieridae Energy Canada project, is adjacent to the Maritimes & Northeast Pipeline on Nova Scotia's Eastern Shore.
Both companies say the decision by five partners, a consortium of state-owned and private investors, to move forward with LNG Canada's $40-billion joint venture in Kitimat, B.C., bodes well for major resource projects in the country.
But energy consultant Tom Adams says the British Columbia development makes the prospects of a Nova Scotia LNG facility in the near future less likely.
He says there is a finite global market for LNG, and that if the B.C. project moves ahead it weakens other projects.