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Canada’s support for liquefied natural gas (LNG) development threatens to jeopardize the country’s positioning as a climate leader and drive up domestic energy costs, despite mounting concerns that international demand for LNG exports will soon evaporate, the UK’s Ember think tank concludes in an analysis issued this morning.
Summary
- Canada may be caught in a global gas glut just as it works to expand its LNG export capacity.
- The European Union is currently the biggest global market for LNG. But rapid decarbonization strategies are already putting a dent in the continent’s gas consumption.
- With Natural Resources Minister Jonathan Wilkinson ruling out subsidies to help gas producers reduce their emissions, all of that new LNG infrastructure could soon become “economically non-viable”.
Read the full post at The Energy Mix.
