According to Bloomberg article published on April 19, 2023, Tourmaline Oil Corp., which began shipping liquefied natural gas off the US Gulf Coast this year, could more than double the portion of its gas output that’s exported in liquefied form within three years.
The volumes sent as LNG could rise to 10% to 15% in the next two or three years from 6% currently, Michael Rose, chief executive officer, said in an interview. Earlier this year, the company started sending natural gas from British Columbia to Cheniere Energy Inc.’s LNG export terminal on the Gulf Coast, where the gas is sent to markets in Asia and Europe.
Tourmaline may find opportunities either on the Gulf or via Canada’s West Coast, where a Shell Plc-led consortium is scheduled to start up LNG Canada by mid-decade, to be Canada’s first major LNG export terminal with shorter access to Asia than US terminals on the Gulf. Another project off BC, called Woodfibre LNG, is also progressing with construction and Pembina Pipeline Corp.’s Cedar LNG recently received both BC and federal approvals.
“We’re looking at opportunities going west, we’re looking at other opportunities going south, but they’ve got to be deals that commercially make sense to us,” Rose said.
