While there have been countless protests against LNG in B.C., the economic benefits are starting to become evident.
A report from Resource Works says LNG projects are a pivotal shift in the province’s energy sector and show how Canada can emerge as a key player in the international market.
“Using Statistics Canada’s Input/Output model, the paper reveals that LNG investments substantially boost the provincial and national economy, generating more GDP and jobs compared to other investment projects in Canada,” the report states.
“A $4.1 billion investment in engineering construction, closely related to LNG projects, yielded a $4.5 billion increase in GDP and created over 35,000 jobs, showcasing the significant economic benefits of such investments.”
The LNG Canada plant in Kitimat is expected to create $23 billion in revenue over the life of the project.
A good portion of that will go to local First Nations who have been active participants in both the export facility and Coastal Gaslink pipeline.
Get daily National news
“I am seeing more people gaining access to mortgages which we’ve never been able to see ever in our nation’s history before,” Haisla Nation Chief Crystal Smith said.
“We’re seeing our membership travel to different places in the world. It’s so amazing to be a part of and be able to see the impact on the ground of our Indigenous communities.”
Critics say LNG will do more damage in B.C. than it’s worth, adding that it is at best a bridge to a future without fossil fuels, but given energy insecurity around the world, LNG will play a key role worldwide for the foreseeable future.
At one point there were 20 LNG projects proposed for B.C. but only two were approved — the other being at Woodfibre near Squamish.
The first tanker from the Kitimat plant is expected to depart around June 2025.
Comments