Signs point to a positive decision
I've spent years lamenting how Canada fumbled a massive headstart on liquified natural gas with endless bureaucratic red tape but the tide may have finally turned.
Shell and its partners at LNG Canada have received final approvals on a US$31 billion project on the west coast. It would be Canada's largest ever infrastructure project.
Bloomberg reports that the LNG Canada is planning to host an event at a local golf course that includes fireworks the day after the Oct 5 announcement. Assume that means they're going to go ahead with it.
It's not a short-term Canadian dollar boost (unless they decide to hedge some of the costs) but it's a rare recent win for the Canadian commodities sector and could be the start of a new wave of investment.
Canada's proximity to Asia and it's huge gas reserves make it an idea place for LNG investment, if only it were easier to get the projects approved.
