Christy Clark Fields Tough Questions on LNG Promises
BC's premier unshaken by grim trends for liquefied natural gas. A Tyee interview.
By Andrew MacLeod, Today, TheTyee.ca
British Columbia Premier Christy Clark won election in 2013 making big promises about the prospects of a liquefied natural gas industry that she said could make the province debt free.But well into that mandate, with just 17 months until Clark faces voters in 2017, no LNG proponent has made a final investment decision. Reports of a global supply glut and plunging natural gas prices have many observers wondering if any of the 20 plants proposed for B.C. will ever be built.
As Moody's Investors Service Inc., for example, said in April, the "vast majority" of North American LNG proposals will likely be cancelled. "Many sponsors -- including those in the U.S., Canada and Mozambique that have missed that window of opportunity as oil prices have declined -- will face a harder time inking the final contracts, most likely resulting in a delay or a cancellation of their projects," the consulting firm said.
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