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The country has an opportunity to become one of the world’s top three liquefied natural gas exporters, but a new S&P Global report warns Canada risks losing out to competing projects in places like the U.S., Argentina and Mozambique. (The Logic)
Talking point: The report, prepared for the Calgary Chamber of Commerce, said LNG investment is cyclical, and Canada is on the clock to secure investment for its projects before the current window closes. It also called the federal government’s goal of increasing LNG exports to 100 million tonnes annually by 2040 “feasible,” and estimated that accelerated development of the sector could contribute $888 billion to GDP through 2050 and support 250,000 jobs annually. However, S&P also warned that it would require immediate action through Indigenous partnerships, streamlined permitting, and risk-sharing with governments to enable investment. Compared to Texas, Canada’s pipeline projects take 27 months longer and cost 160 per cent more, said S&P.
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