20AUG2019 - NEWS - LNG light at end of tunnel for Canada’s gas producers

Building on a decade of challenges, Western Canada’s gas producers continue facing low prices, intense competition from U.S. producers for markets, and a lack of market access. As a result, the industry continues to shrink, Darren Gee, CEO and president of Peyto Exploration & Development, told a panel at the Global Petroleum Show earlier this year.Gee pointed out that production in Western Canada declined from about 18 bcf/d to 16 bcf/d in the last 10 years, with prices collapsing as well.

LNG developers, however, are optimistic things are about to turn around in the near future.

“We’ll be celebrating the success of LNG Canada,” said Stefan Vos De Wael, general manager, commercial with Royal Dutch Shell plc, lead developer of LNG Canada, replying to a question about where the sector would be in five years.