Canadian LNG prospects have ‘darkened,’ says International Energy Agency

In one of the gloomiest forecasts yet for British Columbia’s nascent LNG sector, the International Energy Agency says prospects for export projects have ‘darkened’ and deferrals are likely.
 

In a five-year outlook on global demand for natural gas published Thursday, the Paris-based agency throws cold water on the B.C. government’s hopes of being home to three liquefied natural gas projects by 2020.

The curtailed outlook reinforces what B.C. LNG proponents have feared in recent months — that their window of opportunity to build export projects on the West Coast may be closing. As many as 19 consortiums have proposed export projects, but none has taken a final investment decision.“Prospects for [Canadian] LNG projects have deteriorated and no plant is expected to be operational over the time horizon of this report,” the IEA said.