01 February 2011 19:23 [Source: ICIS news]
Paul Masschelin, Imperial Oil’s senior vice-president, finance and administration, told Canadian business television that in 20 years or so, North America would need both gas from the
Also, “on the margin, North America will continue to be an LNG importer”, he said when asked to justify his company’s plans for the multi-billion dollar
“What’s behind that [long-term gas demand] is that the price of CO2 [carbon dioxide] will increase as time progresses, and as such natural gas will become the primary energy source of choice for power generation,” Masschelin said.
But Masschelin added that Imperial and its partners still had a lot of work to do before construction could start.
Specifically, the project partners would seek fiscal framework agreement with the Canadian government to ensure “an adequate trade-off between risk and reward”, he said.
Canadian analysts and commentators have said that with low North American natural gas prices in the wake of the
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