ICYMI: Trudeau douses excitement over East Coast gas exports, calling business case weak — via financialpost Renewables Oil Gas Energy Commodities
Trudeau made the comments Monday during a joint press conference with his German counterpart, Olaf Scholz, who is visiting Canada for the first time as chancellor.
“But there needs to be a business case. It needs to make sense for Germany to be receiving LNG directly from the East Coast. Those are discussions that are ongoing right now between our ministers, between various companies to see if indeed it makes sense,” Trudeau said. Trudeau said Canada’s best chance of helping its allies may be to continue supplying natural gas to global markets via existing pipelines to the United States, and then eventually through LNG exports on Canada’s West Coast, where the country’s only export terminal is under construction.
The German chancellor is facing an energy crisis at home where European natural gas prices have hit record levels on fears that Russian supply cuts could tip the German economy into recession.
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