British Columbia has signed a Memorandum of Understanding (MOU) with the National Energy Administration of the People’s Republic of China, to strengthen energy trade and investment.
Competitive LNG industry
Commenting on the understanding, Premier Christy Clark said: “The continued growth of our economies depends on foresight and partnership. With our dependable, abundant supply of natural gas and China’s need for new sources of energy, we have an opportunity like never before to work together and develop a strong, competitive LNG industry.”
The MOU emphasises the development of an LNG industry and the benefits it will create for both British Columbia and China. This includes the reduction of China’s global carbon emissions with the use of B.C. natural gas.
Rich Coleman, Minister of Natural Gas Development for B.C., added: “Strengthening relationships with our trade partners in China creates unprecedented growth opportunities for our province’s natural gas sector. Working together will accelerate LNG development and job creation in British Columbia and help China reach its need for a new energy supply.”
British Columbia and China will increase the exchange of energy-related information; expedite networking opportunities for business leaders, researchers and government agencies; and encourage industry to explore investment and mutually beneficial development.
Ben Stewart, B.C.’s Special Representative to Asia (BCSRA), played an important part in bringing the MOU together. The BCSRA provides investors access to a high-level official representative on the ground in Asia, and advances trade and investment priorities on behalf of government. Part of that mandate includes initiating and/or building strategic relationships with key companies and executives interested in developing, investing in or exporting B.C.’s natural gas opportunities like China’s National Energy Administration.
“As the world’s largest energy consumer, China continues to look to B.C. for its abundant, stable energy supply and our government’s representatives in Asia played a key role in advancing negotiations with China’s National Energy Administration (NEA),” said Minister of International Trade Teresa Wat. “In particular the on-the-ground work by B.C.’s Special Representative to Asia (BCSRA), Ben Stewart, paved the way for this signing which facilitates further investment in B.C.’s LNG industry.”
LNG export proposals
With 16 LNG export proposals now in the province, British Columbia is poised to be a leading energy supplier for China and Asia’s growing economies. Development of an LNG industry will result in unprecedented economic growth and has the potential to create more than 100,000 jobs.
The MOU was signed between Deputy Premier and Minister of Natural Gas Development, Rich Coleman, and the Wu Xinxiong, Administrator for the National Energy Administration.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25072014/british-columbia-and-china-strengthen-energy-links-1068/