What is LNG?
LNG is natural gas chilled to -160 degrees Celsius so that it can be converted into a liquid form. After it has been liquefied, natural gas is compressed so it takes up much less space – approximately 1/600th less than natural gas. Once compressed, LNG gas can be loaded on to specially equipped ships and transported overseas for sale into export markets.
How will it boost job creation?
As the LNG industry develops, it will create jobs all over the province.
These jobs will include direct and indirect employment during the construction phase as well as long-term operations. In 2013, the Province commissioned an independent analysis of the potential employment benefits created by LNG development in British Columbia.
This analysis was conducted by Grant Thornton. Employment projections were created using information about the natural-gas sector provided by the provincial government as well as Grant Thornton's own assumptions about development.
Grant Thornton concluded that an LNG industry in B.C., based on five plants operating by 2021, could create more than 39,000 annual jobs over a nine-year construction period and approximately 75,000 jobs once the plants were fully operational - more than 100,000 jobs in total.
Why is it a better alternative?
The need for energy is increasing globally, particularly in emerging Asian economies. Natural gas − the world's cleanest burning fossil fuel − is able to accommodate the demand. In fact, world-wide demand for LNG is projected to increase two-and-a-half times over the next 20 years.
British Columbia is well-positioned to meet this need, with the competitive advantages to become a leading contender for LNG growth and export, including an abundant supply of natural gas which can support economic activity in the province for over 150 years.