Build it and they will buy. The new world of LNG Canada
It’s not like the partners in LNG Canada would not like back to back foundational customers underwriting the risk. But buyers are increasingly squeamish to sign longterm agreements as they think that things will be better for them in the future and sellers think that the market will turn their way. Big IOC’s like Shell are used to underwrite risk in giant oil projects – its a small step for them to do the same in gas.
The first major liquefied natural gas (LNG) project to be approved globally in five years will be built in Canada, but its underlying philosophy appears to be more closely allied to the Australian concept of “she’ll be right, mate.”
