Canada's historic first cargo of LNG sets sail for buyers in Asia
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The GasLog Glasgow, a vessel chartered by Shell, arrived early Saturday at the Port of Kitimat for loading and is expected to deliver the country's first large-scale cargo of LNG to Asia in the coming days.
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'We're very proud to be leading a new energy business in Canada at scale,' LNG Canada chief executive Chris Cooper said, calling it an 'historic' moment that shows the country can 'stand on its own two feet.'
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'We're helping Canada diversify its export markets, and, in doing that, we're providing a secure supply of energy to folks in Asia who are looking to further decarbonize,' he said.
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The inaugural cargo comes nearly 15 years after the first application for a licence to export LNG from the West Coast was submitted to federal regulators. Since that time, more than a dozen LNG projects aiming to capitalize on Canada's shorter shipping distances to Asia and abundant supply of natural gas have come and gone amid political flare-ups over pipelines, tightening environmental standards and shifting global market dynamics.
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'There were quite a lot of people trying to get LNG facilities to proceed. LNG Canada was the one that went ahead,' Cooper said. 'I think we've enabled the ecosystem for further investment. You see Woodfibre LNG coming, you see Cedar LNG and you see Ksi Lisims LNG also coming, so I think that catalyst is now started.'
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A lot of 'hopes and dreams' are tied to the success of LNG Canada, said Ian Archer, an associate director at S&P Global Inc. and an expert in North American natural gas markets.
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'Not only for the backers of the project to prove that it works, but also for a lot of the projects that are now in the queue to say, 'Look, we can do this,'' Archer said. 'It's really a very significant event for Canadian natural gas, because not only does it provide the first gas that does not go to a single market, it also proves that the concept works and says that this is something that we can push forward and expand.'
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