Four Asian markets loom large for Canadian LNG proponents
China and India's natural gas demand set to soar as proponents pursue export terminals on B.C.'s coast
Finding new markets that will serve as a sop for natural gas has become a dominant theme in Canada’s oil and gas industry. As the sector’s traditional market – the United States – finds itself oversupplied with the cleanest burning fossil fuel due to the so-called “shale gale”, it’s importing less of the hydrocarbon from Canada, and paying much less for it, than it has in the past. That’s why companies with natural gas assets in Western Canada are salivating at the thought of turning the stuff into liquefied natural gas (LNG) and shipping it to Pacific Rim markets that will pay a premium for it. But where are these markets? And how much natural gas will they need? What follows is a list of four countries whose demand for natural gas is forecast to soar over the next two decades.
Source: Fraser Institute/U.S. Energy Information Administration