Canada needs an “at scale” LNG economy: Boissonnault [LNG2023]
Canada needs an “at-scale” LNG economy to keep up in the global climate change fight," Randy Boissonnault, Canada’s associate minister of finance said in a keynote address to the LNG2023 conference on July 11.
“The world’s major economies are moving at an unprecedented rate and pace to fight climate change, retool their economies and build the net zero industries of tomorrow,” he said. “Canada must keep pace because we cannot afford to fall behind – that is why the development of an at scale LNG economy is a strategic priority for Canada.”
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And he opened his address by echoing a statement by US President last March when he addressed the Canadian Parliament: “The world needs more Canada, whether it’s critical minerals, or hydrogen or grains, or artificial intelligence or LNG. Canada has what the world wants.”
Boissonnault’s message was the strongest expression of support for Canada’s LNG aspirations from the federal government in quite some time. Last summer, as Germany sought to source more natural gas from Canada, Prime Minister Justin Trudeau said there was no business case for delivering Canadian LNG to Europe, and instead suggested Germany pursue hydrogen opportunities in Canada.
Since Russia’s invasion of Ukraine in February 2022, the world has realised the need to work together to eliminate energy poverty, enhance global security and maintain a strong focus on effectively combating the climate crisis.
“In this context, Canada is well positioned to be a stable and reliable global supplier of choice,” he said. “We ... have the ability to produce LNG with the world’s highest environmental standards and lowest emissions.”
Canada, he said, was also the first country to support the Global Methane Pledge, a commitment to reduce oil and gas methane emissions by at least 75% below 2012 by 2030.
“The fact is, we are facing a changing climate, and to use a very Canadian statement, we must skate to where the puck is going.”
This feature was originally published in the LNG2023 Daily, produced by NGW during the LNG2023 conference in Vancouver July 10-13.