By Bryan Cox, President & CEO, Canadian LNG Alliance
The Conference Board of Canada says growing the liquefied natural gas (LNG) industry in British Columbia will create 96,550 new jobs, boost employee wages in Canada by over $6 billion, and increase Canada’s Gross Domestic Product (GDP) by $11 billion every year.
“Canada’s LNG industry holds potential economic benefits for Canada,” said Roger Francis, Director of Sustainability at The Conference Board of Canada. “Thousands of well-paying jobs could be created and billions of dollars in new revenue could be realized by governments across the country.”
The Conference Board’s report, A RISING TIDE: THE ECONOMIC IMPACT OF B.C.’S LIQUEFIED NATURAL GAS INDUSTRY, looks at the benefits of growing Canada’s LNG industry with the investment in infrastructure, additional LNG projects and the expansion of the $40 billion LNG Canada project in Kitimat, B.C.
The report looks at the impact this massive scale of investment in LNG would have across the country and the impact to the Canadian manufacturing, resource, tourism, finance, transportation, technology, arts and professional services sectors. LNG facilities will provide economic growth, employment, taxes and royalty revenues to B.C., other Western provinces, Ontario, Quebec and the federal government for decades to come.
This report shows that by all of us working together—governments, industry, Indigenous nations, workers and communities—to responsibly build an LNG industry, we can provide a significant and much-needed economic boost to our country. Importantly, by producing the world’s lowest-emission LNG, Canada will make an outsized contribution to reducing global emissions and particulate matter, while investing in the critical infrastructure we need for our continued transition to a cleaner energy future.