Canada has an opportunity to capitalize on the coming growth for Liquefied Natural Gas and reduce global GHG emissions by displacing coal-fired electricity generation in Asia. Natural gas is abundant and affordable and when used to displace coal for power generation, natural gas generates about half of the emissions. The LNG we are developing in Canada is among the cleanest in the world. Exporting Canada's sustainable LNG is the single largest contribution our country can make in the fight against global emissions.
But this opportunity is at risk. The District of Squamish recently introduced a resolution that could significantly impact the progress of the proposed Woodfibre LNG project. Woodfibre LNG has been through considerable consultations and have done their due diligence with respect to the environment - once operational, the project will be among the cleanest LNG facilities in the world.
The COVID-19 global health pandemic has created considerable economic hardship for many. As we emerge from the crisis, we are going to need jobs and opportunities more than ever - Woodfibre LNG can provide both. The project will create over 600 good-paying construction jobs and generate millions in royalties and taxes to help pay for public services. But this project is at risk without support.
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