Quote:
Originally Posted by Azure
https://www.reuters.com/business/ene...al-2022-06-28/
You can go back '5, 10, 15' years and look at the increasing reliance by Germany & Europe on Russian gas and see it as a missed opportunity from the 6th biggest producer in the world of natural gas who currently has ZERO LNG export capabilities, or you can whine about costs and other stupidity and dance around the issue like Canadians love to do.
And yes, I realize that all this means we should have built LNG export facilities on the east coast with pipelines to send western province produced natural gas east.
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Cost is everything.
For the record, I likely agree with your frustrations and I told you so's for Canada's west coast LNG mismanagement. The Asian LNG/natural gas market has been lucrative for a long time.
Canada's west coast LNG export delays have been a huge missed opportunity. Canada's East Coast LNG is not economically competitive without Canadian or German taxpayer subsidies.
This July 2018 report on the economic viability and hurdles for Canada LNG development does a better job breaking this down than I ever could.
https://ceri.ca/assets/files/Study_172_Full_Report.pdf
East Coast Canada LNG to Europe Estimate (July 2018): $11.17 /mmbtu
Russian Natural Gas July 2018: $7.62 / mmbtu
Germany uses 80.5 mmbtu/household of natural gas for heating/electricity. So if Germany wanted to be supplied with Canadian LNG, it would cost
an extra $285 per year in heating/electricity costs per family. It is not an insurmountable amount, but this cost has to be paid by someone.