With files from The Jon McComb Show.
B.C.’s minister of natural gas says the boom is coming, though he concedes it will take longer than originally promised.
Speaking with Jon McComb, Rich Coleman says while prices are in the gutter now, they’ll recover by the time plants are online.
“The actual supply slide will go about five to six years from now, and then it will start to tighten up again as far as what’s available worldwide and what the demand is, we’re expecting a significant increase in demand as China moves off more coal projects, as they’re planning to do, as well as demand in India.”
LISTEN to the full interview with Jon McComb:
Certainty in the industry needed
Coleman says the key now is for the Federal Government to green-light Prince Rupert’s Pacific Northwest LNG plant to signal certainty to the industry.
In the last election the B.C. Liberals promised 100,000 jobs and a debt free B.C. from the industry, but so far no shovels have hit the ground.
Coleman says LNG cash is already hitting the province.
“I wouldn’t say we hoodwinked anybody. The fact of the matter is, in just the last four years in British Columbia, there’s been approximately 20 Billion dollars invested in projects related to liquified natural gas.”