Canada’s first ever liquefied natural gas (LNG) can be produced this weekend at LNG Canada's export terminal in Kitimat, British Columbia, says Reuters, citing sources familiar with the facility’s startup.
The plant will be North America’s first LNG facility with direct access to the Pacific coast. This has the potential to significantly reduce delivery time to Asian markets. The company reports that the terminal can export 14 million tons of fuel per year once fully operational.
According to Reuters sources, the cooldown of Train 1, which has a capacity of 6.5 million tons per year, is set to last until June 19. LNG Canada’s first liquefied gas will be produced between Saturday and Sunday this week, and its first cargoes are expected by the middle of this year.
According to LSEG, the Gaslog Glasgow tanker is on its way to the port of Kitimat. After arriving on June 29, the ship will be loaded with LNG, Reuters reports.
Traders see Canadian gas exports to the US falling after LNG Canada enters service, as the country’s energy companies will have another outlet for their fuel.