Opinion: The economic benefits of LNG for British Columbians are real and significant

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BC is poised to become a global energy leader in a world that cries out for reliable, sustainable sources of responsibly produced, low-carbon, intensive energy. The question is whether industry, governments and other stakeholders can seize the opportunities before us to make this happen.

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The demand for LNG has never been higher. The world is undergoing a massive energy transition, affecting how we will heat our homes, drive our cars, grow our food, and manufacture and transport products around the world essential to our daily lives.

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If BC’s less carbon intensive LNG doesn’t reach potential customers, they simply won’t forgo using natural gas or other fossil fuels. Instead, they will turn to more polluting producers or higher-emitting energy sources that already dominate the market.

The province is uniquely positioned with an abundance of low-carbon natural resources, significantly higher environmental and human rights standards relative to competing producers, proven expertise, and proven innovations. Most importantly, it has strong buy-in and participation from indigenous nations, who are also interested in advancing the reduction of global carbon emissions and supporting the thriving and prosperous communities of BC.

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Those interests include meeting the high performance and regulatory standards expected by British Columbians.

In 2018, the provincial government outlined four conditions for all LNG development in BC: ensuring a fair return for BC’s natural resources; guarantee jobs and training opportunities for British Colombians; respect and partner with First Nations; protect BC’s air, land and water, including meeting the province’s climate commitments.

LNG development in BC has shown that it can meet all four of these directives. The companies, including two indigenous-led BC LNG proposals, have already set a high bar for social, economic and environmental performance that will put BC and Canada on the map of LNG-exporting nations.

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LNG Canada’s Kitimat facility, now 75% complete and preparing for its first LNG shipments by mid-decade, is designed to generate 35% lower GHG emissions than the world’s best-performing comparable facilities and 60% lower than the global ones. average weight. This is possible primarily with renewable energy from the BC Hydro grid. Similar metrics will be replicated in other BC LNG projects being considered. It will make a significant contribution to global efforts to reduce emissions, as LNG replaces the use of coal for energy needs.

It cannot be overlooked that a critical component of BC LNG development is indigenous participation, through partnerships, joint ventures and equity positions.

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FortisBC and Musqueam Indian Band have signed a capital option agreement on proposed LNG expansions at Tilbury that will help reduce emissions from shipping. The Haisla and Nisga’a nations have ownership and development roles in planned projects on their territories. The Squamish Nation established the first Indigenous Environmental Assessment process in Canada on the Woodfibre LNG project, strengthening their governance over activities on their lands.

This is reconciliation in action, with extensive benefits flowing through BC and Canada, allowing for sustained single-source income for individual nations to build up their communities.

The economic benefits to British Columbians are real and significant. For example, LNG Canada has awarded more than $3.8 billion in contracts and acquisitions for BC businesses To date, the Tilbury Expansion Projects have generated more than $140 million in spend with 407 BC-based suppliers and 16 Indian-affiliated businesses.

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A growing and sustainable natural resources sector, including LNG development, also provides ongoing workforce development, skills training and employment opportunities in remote areas where access would otherwise be limited. These jobs provide family-sustaining income that is spent locally and contributes to vibrant small businesses and, ultimately, vibrant communities.

BC and Canada have material opportunities that can make a positive difference in the lives of British Columbians and indigenous peoples, produce government revenue to meet the growing demands on our public services, and address the increasingly complex problem of insecurity. energetic. And we can do this while also providing a lower carbon product vital to our collective energy transition.

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Now is the time to move forward with BC-made LNG.

Bridgitte Anderson is President and CEO of the Greater Vancouver Board of Trade; Karen Ogen-Toews is Executive Director of the First Nations LNG Alliance; Greg D’Avignon is President and CEO of the Business Council of British Columbia; Al Phillips is president of BC Building Trades; Fiona Famulak is president of the BC Chamber of Commerce.

Letters to the editor should be sent to [email protected]. The editor of the editorial pages is Hardip Johal, who can be reached at [email protected].