Overview

• A report from Investors for Paris Compliance casts doubt on the financial feasibility of reviving the Saguenay LNG export project, citing weak demand and high costs.
• European LNG demand fell by 18% from 2022 to 2024, while global production, led by the U.S. and Qatar, is projected to grow by 40% by 2028, outpacing demand.
• The project's estimated cost has ballooned to over $33 billion, with the report suggesting public funding would likely be required.
• The original pipeline project, canceled in 2021 due to environmental concerns and public opposition, is now being reconsidered by Quebec Premier François Legault.
• The report advocates for alternative economic strategies, such as integrating provincial electricity grids and expanding critical minerals mining, as more viable options for economic growth.