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Tuesday, July 30, 2013

Canaport Wants To Export Natural Gas

Canaport LNG is evolving as a trans shipment terminal with its application to Environment Canada for approval to export liquified natural gas overseas. 

That, according to John Herron of the Atlantica Centre for Energy who tells CHSJ News there's a glut of natural gas in the North American market so this make perfect sense.

Herron says the glut has been created due to shale gas development and the liquified natural gas would fetch a much higher price in Europe and Asia because the world market for natural gas is skewed.