On LNG, Canada turned away Germany, then Japan – this country cannot keep doing that
Leslie Palti-Guzman is co-founder and CEO of Gas Vista, a predictive analytics provider focused on seaborne natural gas trade. Rachel Ziemba is founder of Ziemba Insights and adjunct senior fellow at the Center for a New American Security.Prime Minister Fumio Kishida announced Japan’s interest in buying more Canadian energy supplies.
To his credit, Mr. Trudeau avoided making the same statement he made some months ago, when he claimed, on But, given the way the world is changing, more trading partners will knock on Canada’s door, and this country should not find itself forced to say no. Even in sustainability-conscious Europe, the war in Ukraine has brought energy risks into sharp focus and reinforced the benefit of alternate energy infrastructure and supply chains, including strategic energy reserves. EU utilities, long wary of long-term contracts, have begun signing agreements with Qatari and U.S. producers for LNG supplies that will begin after 2026. This reflects their commitment to move away from Russian gas even if the current invasion of Ukraine is resolved.
Instead, Canada has an opportunity to insist producers invest in the cleanest LNG supplies. That means capitalizing on the trend of tracking full life cycle emissions – which measure the carbon footprint of fossil fuels from extraction to end use – and ensuring such efforts are not greenwashing. Canadian LNG will displace coal in Asia, and has a shorter travel time to Europe than Gulf Coast or Qatari supplies.
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