Natural Resources Minister Joe Oliver met with members of the Canada-Korean Business Association in Vancouver July 22 to highlight the importance of increased trade between the countries.
Chief among the trade issues discussed was the export of liquefied natural gas. South Korea is the world’s second-largest importer of LNG, after Japan.
“Our government recognizes that exports to South Korea are an important contributor to Canada’s prosperity. We have made tremendous progress in trade, investment and scientific innovation,” said Oliver.
“We are aggressively pursuing agreements with agreements with countries in the Asia-Pacific region that permit Canadian businesses to compete in the fastest growing region of the world.”
There are currently 10 LNG projects proposed in B.C. For a full list, click here.
Of those proposals, the Pacific NorthWest LNG plant, planned for Lelu Island near Prince Rupert, is currently undergoing an environmental assessment by provincial government.
Pacific NorthWest LNG is jointly owned by Malaysian energy giant Petronas and the Japan Petroleum Exploration Company (Japex). Petronas owns owns 90% of Pacific NorthWest LNG; the remaining 10% belongs to Japex.
Earlier this month, Pacific NorthWest LNG applied to the National Energy Board (NEB) for an export licence. According to its submission to the NEB, the project is seeking to export 19.68 million tonnes of LNG for 25 years beginning in 2019.
