Al Hudec, a Farris partner, is a member of the Advisory Board for the upcoming Canada Gas and LNG Exhibition & Conference taking place May 14-16 in Vancouver. In connection with preparation for the conference, Al commented recently in Gastech Insights as follows on the current prospects for the development of an Liquified Natural Gas industry in British Columbia:
I expect positive FID decisions on the large LNG Canada and Kitimat LNG projects on the Haisla Reserve near Kitimat, each of which is fully approved and expected to be equity or balance sheet financed. Woodfibre LNG, a small project in Squamish, will probably also come on stream. I also expect a reversion to more seller friendly terms in off take agreements as markets tighten and new markets come onstream.
As international market conditions improve, this will open the door to the return of larger project financed projects to Canada. I hope to see several projects proceeding to FID through a streamlined regulatory review process with strong First Nations and Provincial Government support. Overall, I expect to see an abundance of project proposals, focused on the use of cheap gas in projects other than LNG export. We need to come up with other creative ways to monetize our abundant surplus gas reserves.
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