Process West: Red tape has left Canada on the sidelines to step up LNG exports
Canada, despite having ample reserves, have not stepped up to export desperately needed natural gas to Europe. Why?
Exporting & Importing
Oil & Gas
exports and imports
oil and gas
Europe is suffering its worst energy crisis since the 1970s. European natural gas prices have risen more than 600 per cent over the past year, including 30 per cent since Russia invaded Ukraine.
While the United States, Australia and other countries have already started to boost shipments of liquified natural gas (LNG) to Europe, Canada remains on the sidelines. Unfortunately, despite being the world’s fifth-largest producer of natural gas, Canada has missed the opportunity to expand our supply of LNG to overseas markets due to a lack of export infrastructure, largely due to regulatory barriers and environmental activism.