EDMONTON — Alberta’s Associate Minister of Natural Gas and Electricity Dale Nally is expressing strong support for the conclusions of a recent Conference Board of Canada report about the Canadian liquefied natural gas (LNG) industry.
The report, entitled A Rising Tide: Economic Impacts of LNG in Canada, predicts investment, GDP, employment and fiscal gains for Canada, and for British Columbia in particular, through LNG.
“This report reinforces the tremendous economic and environmental benefits of developing a strong Canadian liquefied natural gas industry. As noted in the report, doing so will create tens of thousands of jobs across our country, help lower global emissions, and increase Canada’s annual gross domestic product by tens of billions of dollars. This is why it is imperative that the federal government work with Alberta, British Columbia and other provinces to advance LNG projects using a Team Canada approach,” Nally said.
“Since day one, our government has been steadfast in our support of Alberta’s natural gas sector. Albertans, Canadians and people around the world depend on this cleaner burning resource, and that’s why we continue to advocate – to all levels of government – for enhanced market access.”
The report said in a scenario where there is a 56 million tonne per annum LNG industrial footprint in the province, the total investment average investment between 2020 and 2064 would be over $11 billion.
In Canada as a whole there would be 96,550 more jobs a year and over $6 billion in wages and in B.C. there would be over 71,000 more jobs a year and over $4.6 billion in wages.
“Nation-building projects, such as those referenced in the report, would create more than 96,000 annual jobs for Canadians, and boost total wages by more than $6 billion each year. In Alberta, the completion of a series of West Coast LNG projects could contribute $1.6 billion to the province’s annual GDP, along with nearly 10,000 permanent, good-paying jobs each year. The report also notes significant job and economic benefits to other provinces across the country, including Ontario and Quebec,” Nally added.
From 2020 to 2064, over $108 billion in provincial revenue could be generated for the provinces. Of this total, nearly $94 billion would go to British Columbia, the report stated.
“Our historical strengths as a natural gas powerhouse have set a solid foundation. Now, together as Team Canada, we must work to build an innovative and sustainable LNG industry that will create ripple effects of success well into our future,” he said.