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With the current glut of natural gas in Canada due to increases in shale gas production and disappearing demand from the U.S.A., it is now pivotal for the entire Canadian natural gas industry that they establish LNG export infrastructure to reach new Asian markets such as Japan, China and India. However, although seven LNG export terminals have now already received government approval, many obstacles still lie in the way of the creation of a globally competitive LNG export industry in Canada.
For the industry to get off the ground, Canadian LNG terminal developers need to collaborate with regulators to establish a fertile fiscal framework to attract buyers, work with First Nations to create mutually beneficial solutions for establishing pipeline infrastructure and, crucially, find Asian buyers who are willing to enter into long term contracts. With rival projects being developed in the U.S., Australia and Qatar, these obstacles need to be overcome urgently before the opportunity is missed.
To address these challenges, the Canadian LNG Exports: Multi-Stakeholder Collaboration Initiative 2014 will be the first Canadian-specific platform connecting Canadian LNG Terminal developers and regulators with Asian buyers from Japan, China and India and key First Nations groups to find practical solutions for collaborating to establish a globally competitive LNG export industry in Canada. Held on the 18th and 19th of June.
The event will provide a 360 degree view from each stakeholder group on what they are doing to speed up the development of the Canadian LNG export industry and what they need from the other stakeholders in order to move forward, with the practical output of laying the foundations for the new wave of national and international partnerships that will push the industry forward.