Premier Christy Clark continues to build momentum for British Columbia’s liquefied natural gas (LNG) industry with the renewal of an agreement between B.C. and the Japan Oil, Gas and Metals National Corporation (JOGMEC), while on her trade mission to South Korea, the Philippines and Japan.
Premier Clark and JOGMEC president Keisuke Kuroki renewed a memorandum of understanding (MOU) on energy cooperation and development, an agreement that strengthens B.C.’s ties with JOGMEC, which has made a number of investments in B.C.’s natural gas and LNG sectors. The MOU is focused on advancing B.C.'s natural gas-related technologies and support for B.C.'s LNG sector.
“Strengthening our province’s relationship with Japan, the world’s largest importer of LNG, is key to the success of B.C.’s LNG sector,” Premier Clark said. “Our province is committed to developing this industry and exploring other valued-added uses for natural gas. By working together, B.C. will be a strong ally for Japan as it continues to diversify its energy portfolio.”
JOGMEC has an equity position in four LNG and natural gas projects currently under development in B.C. – the Cordova Embayment, the Cutbank Ridge Partnership, Pacific NorthWest LNG and Aurora LNG.
Also in Japan, Premier Clark met with the following companies: Mitsubishi, a joint stakeholder in LNG Canada with Shell, PetroChina and Korea Gas Corporation (KOGAS); and Japan Petroleum Exploration Company (JAPEX) to discuss its partnership in the Pacific NorthWest LNG project.
"The signing of these agreements in Asia highlights the continued momentum and support for LNG development in British Columbia,” said David Keane, president and CEO of the BC LNG Alliance. “By working collaboratively, the industry and all levels of government have been able to reach significant milestones in a very short time period. Already, two of our proponents have been granted Canadian Environmental Assessment Agency certificates, and 29 of 32 First Nations have signed benefit agreements.”
Trade missions are a critical part of British Columbia’s strategy to diversify its international trading partners and secure new investment, propelling economic activity and job creation throughout the province.
- B.C. has enough natural gas supply to support production and LNG exports for more than 80 years.
- Japan has been diversifying its energy supply since a March 2011 earthquake damaged energy infrastructure in the country and shut down nuclear electric generating capacity.
- Japan accounted for 37% of the global market share of LNG demand following the event, from 2012 through most of 2014.
- Natural gas is Japan’s preferred fuel source to replace the nuclear shortfall. Natural gas consumption in Japan rose from 19% in 2010 to 22% of total primary consumption in 2013.
For more information on the Premier’s trade mission to Korea, the Philippines and Japan, visit: https://news.gov.bc.ca/stories/trade-mission-to-korea-the-philippines-and-japan
For more information about B.C.’s LNG opportunity, visit: www.LNGinBC.ca
For more information about B.C. trade and investment opportunities, visit: http://www.britishcolumbia.ca/
Learn more about the BC Jobs Plan at: www.bcjobsplan.ca