LNG Project in Canada’s East Could Be Sped Up to Supply Europe
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The company behind a proposed liquefied natural gas project off Newfoundland’s coast could push forward its schedule after the Ukraine crises left Europe scrambling to find alternatives to Russian supplies.
LNG Newfoundland and Labrador Ltd.’s C$5.5 billion project to take natural gas associated with offshore oil production and liquefy it on floating facilities at Grassy Point, could be pushed forward to start as early as 2028 from 2030 to accommodate European buyers, Leo Power, chief executive of the company, said in a phone interview. The export terminal will produce as much as 2.6 million tons a year of the chilled fuel.