Despite the revenue decline, the volume of natural gas being produced in B.C. has held steady even as commodity prices have plummeted. Employment in the sector has been relatively buoyant as well, even seeing modest growth last year. But that stability would come to a swift and sharp halt without the prospect of LNG terminals that will give the industry access to markets with higher prices and reverse its years-long decline.
“The LNG promise and expectation has kept the B.C. natural gas industry alive,” said Jock Finlayson, executive vice-president at the Business Council of British Columbia.