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3h ago

S&P Global Says Canada Can Become a Top LNG Exporter

Faster permitting and decisive private investment are required to capture nearly $1 trillion in potential LNG spending and deliver lower‑intensity exports

Scenes from a tour of Woodfibre’s LNG plant and Floatel in Squamish, B.C., July 16, 2026.
Wudang, a liquefied natural gas (LNG) tanker, fills up at an LNG Canada facility, in an aerial view, in Kitimat, B.C., on Thursday, Nov. 13, 2025. THE CANADIAN PRESS/Ethan Cairns
An LNG tanker in Kitimat, B.C., in April 2025. LNG Canada recently announced it would proceed with the second phase of the facility, which could double the amount of exports.
Pulitzer Prize-winning American author, speaker, and economic researcher Daniel Yergin poses for a portrait at the Chateau Laurier in Ottawa, March 25, 2014

Overview

  • The S&P Global study, released Thursday, estimates scaling Canada’s LNG sector could attract almost $1 trillion of investment and support about 250,000 jobs annually across the value chain by 2050.
  • The federal aim of up to 100 million tonnes a year by 2040 contrasts with today’s single operational plant that produces about 14 million tonnes and with few projects having taken final investment decisions.
  • S&P identifies the main obstacles as slow regulatory reviews that have taken roughly 27 months longer than in Texas, pipeline construction costs about 160% higher than U.S. peers, and limits on power and transmission capacity.
  • Canada’s competitive edge includes large, low‑cost gas supplies, coastal routes to Asia, valuable natural‑gas liquids that boost project economics and LNG production with roughly 55% lower greenhouse‑gas intensity than many rivals.
  • If Ottawa speeds approvals and industry makes final investment decisions, the report says regional jobs and export revenues could rise sharply; if not, projects will face higher costs and international competitors may capture the growing Asian and European demand.