Lexpert Magazine

Nov/Dec 2017

Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.

Issue link: http://digital.carswellmedia.com/i/894157

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Page 69 of 91

70 LEXPERT MAGAZINE | NOVEMBER/DECEMBER 2017 FEATURE RAPID TECHNOLOGICAL ADVANCEMENTS in natural gas extraction from shale deposits have given the United States a new level of energy indepen- dence. So, for Canadian companies in the exclusive business of selling hydrocar- bons south of the border, the writing has been on the wall for some time — either find a new buyer or find a new line of work. To that end, a seemingly straightforward plan had been, until recently, coming along. With the right approvals, Canadian producers could extract natural gas from shale formations in Alberta and British Columbia, pipe it to liquefaction facilities on the BC coast, and then ship it straight across the Pacific to Asia, where demand is soaring, driven largely by emerging economies needing more fuel and those converting from coal to cleaner fuels. Qatar, Malaysia and Australia have jumped all over the burgeoning industry to become the leading liquefied natural gas (LNG) exporters. e global market for liquefied natural gas is "perhaps the fastest growing major energy market in the world," according to Forbes. Canada is awash in it. We have far more than we need, and supply has only grown as this country exploits the same technologies that have allowed the US — historically Canada's largest importer — to entertain thoughts of exporting. In 2013, Canada had almost 20 projects both large and small in varying stages of development, and British Columbia was predicting it would have five export facilities running by 2020, making it a major-league exporter. Yet today Canada Investors in Canada's fledgling LNG industry have pulled out due to a host of economic and regulatory issues. With competition heating up, project proponents say it's time for a rethink BY SANDRA RUBIN Courage Liquefied PHOTO: REUTERS

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