A liquefied natural gas (LNG) project off the coast of the Canadian province of Newfoundland could be brought forward to accelerate the delivery of gas to Europe as an alternative to Russian gas. The company behind the project has attracted a lot of interest from potential buyers in Europe, including Germany, since the Russian invasion of Ukraine.
–
LNG Newfoundland and Labrador’s project to extract and liquefy natural gas from offshore oil production could be brought forward by two years. With that, the company could start delivering in 2028, said company CEO Leo Power. The export terminal will be able to produce 2.6 million tons of liquefied natural gas annually.
–
The project would have the advantage that Newfoundland, Canada’s easternmost province, is nearly half the distance from Europe than the LNG terminals in the Gulf of Mexico. The plant is also powered by hydropower, which should keep emissions to a minimum, Power said.
–
EU is going to cap gas prices: Prime Minister De Croo explains:
Canada currently has no LNG plants and although numerous projects have been proposed, only one is currently under construction off the Pacific coast. However, the Canadian government is in talks with European countries to eventually supply them with natural gas, Jonathan Wilkinson, the secretary of natural resources, said last week.
–
Gas projects in the Atlantic face major challenges. A proposal by Énergie Saguenay for an LNG plant in Quebec was rejected by both the federal and provincial governments. Pieridae Energy’s plan for an LNG plant in Nova Scotia that would use gas from Alberta is still looking for an investor to continue, according to CEO Alfred Sorensen.
–
ALSO READ:
This is how Belgians save: “I now shower more often at work” (+)
–
–
–
Free unlimited access to Showbytes? Which can!
Log in or create an account and never miss a thing from the stars.
–
–
