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Bruised Canadian Energy Sector Sees LNG Project as First of Many

  • Chevron, Exxon Mobil also have considered terminals in Canada
  • TransCanada to start building pipeline following announcement
Views Of Kitimat As Canadian Stocks Rise A 2nd Day After Oil Climbed

Photographer: Ben Nelms/Bloomberg

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While the LNG Canada facility that was greenlighted Tuesday won’t be operating for years, the battered Canadian energy industry is already hoping that it will be the first of many such plants on the country’s Pacific Coast.

“If you get one plant through, you’ll get a second and third plant to follow much easier,” said Steve Laut, vice chairman of Canadian Natural Resources Ltd., one of the country’s largest natural gas producers. “It gives confidence to the other proponents."