The Canadian High-Level Gas Summit

The Gas Summit is co-presented by the Public Policy Forum and McCarthy Tétrault.

THIS EVENT IS BY INVITATION ONLY

In a world seeking out clean energy supplies, Canada’s natural gas fields continue to intrigue international investors. Global energy companies view Canada’s fields as among the most attractive energy sources in a decarbonizing world – clean, abundant, secure.

Global demand for liquified natural gas (LNG) and its derivatives, like ethane, propane, butane and hydrogen, is on a growth path. LNG is a lower-carbon way for countries to move off coal and supply energy to their citizens as part of the world’s transition to net-zero by 2050. At one time, Canada was viewed as a highly favourable place to invest, and over 20 projects were being seriously assessed. Canada threw its weight behind Phase 1 of the $40 billion LNG Canada project in Kitimat, B.C., the largest free-standing investment in Canadian history. With an investment window open again, the question is will Canada welcome other projects or take a pass as the rest of the world rushes to fill global demand?

Gas, one of the few mega-sources of foreign investment, occupies an unusual place in the energy transition. It is seen both as part of the carbon problem and part of the decarbonizing solution. Canada’s gas enjoys a significant low-carbon advantage over competitors due to its relatively clean state coming out of the ground, strong methane regulations and the fact that LNG production from British Columbia to Labrador can be powered by carbon-free hydroelectricity. Canadian gas producers are increasingly electrifying their field production and moving toward net-zero.

Canadian gas represents a world-class, non-replicable resource that can displace emissions from higher carbon alternatives, weaken the hands of unreliable geopolitical actors like Russia and unlock ESG advantages throughout the entire supply chain for our trading partners. Clean gas coupled with carbon capture provides Canada with early-mover advantage in the coming net-zero race to a hydrogen-powered future.

What does Canada want its gas story to be?

LNG Canada is evaluating the possibility of proceeding to a Phase 2. The Malaysian energy company, Petronas, has invested in Canadian gas holdings with an eye to importing Canadian LNG into Asia. Other projects are being proposed. Moreover, almost all of them involve partnerships with Indigenous Canadians. The Haisla First Nation in British Columbia has advanced to the feasibility stage on the Indigenous-owned CEDAR LNG initiative, and other First Nations from B.C. to Labrador have entered into agreements to develop their storehouses of gas as they seek to strengthen their economic bases as sovereign nations. They want these projects, and they want them developed in an environmentally sustainable way consistent with their values.

Canada doesn’t want to get it wrong on gas. There’s a lot at stake for the country, for First Nations and for the global good. It is time for a full airing of the issues and opportunities.

The Gas Summit is co-presented by the Public Policy Forum and McCarthy Tétrault.

Gas Working Table members: ARC Resources, Enbridge, CIBC, FortisBC, McCarthy Tétrault, Petronas Canada and Shell Canada.

With contribution from the Business Council of British Columbia.

PPF COVID-19 VACCINE POLICY

To protect the health and safety of our staff and event guests, PPF has implemented a mandatory COVID-19 vaccination policy. We require all staff and event attendees to be fully vaccinated. You will be asked to show proof of vaccination and photo I.D. upon arrival. Unvaccinated individuals due to medical or other protected grounds under Human Rights legislation may request an accommodation. In all cases, face masks covering the nose, mouth and chin must be worn at all times except while actively eating or drinking. Please adhere to social distancing protocols before, during and after the event. This policy will comply with all applicable laws and is based on guidance from Health Canada, Public Health Ontario and local health authorities.

Due to contact tracing, only those that have registered are to attend the event. If a ticket needs to be transferred to someone that is not registered, please email registration@ppforum.ca.

This policy and these measures will remain in place until further notice, will be reviewed periodically, and are subject to change in accordance with public health guidance and developments in our community.