The future pipeline of North American natural gas aimed toward Asian power generation and residential markets gained another key foothold, according to a new story in the Nikkei Asian Review.
A massive project in British Columbia ($30 billion U.S.) may export liquified natural gas to Asia within five years. The project, led by Royal Dutch Shell, gained a $275 million Canadian Dollar ($208M U.S.) subsidy, the article by Nikkei staff writer Sora Takahaski reported.
LNG export is a key outgrowth of the shale gas revolution in the U.S. and the North American continent. Numerous companies are developing LNG terminals on the U.S. Gulf Coast which will be the port for shipping LNG to Europe and Asia for power generation and heating purposes.
Companies involved in projects on the Gulf Coast include Cheniere Energy and Sempra.
This global market for North American natural gas could change the economic and political dynamic in all of those regions. In this case, Canada is the world’s fourth largest producer of natural gas, including exports to the U.S., and looks at the project as a way to diversify its gas export market
Partners in the British Columbia project also include Petronas, the Malaysian state-owned oil company, and Mitsubishi Corp. of Japan, among others.
Click here to read the Nikkei Asian Review story.