U.K.’s BG Group files $16B plan to export LNG from British Columbia

The U.K.’s BG Group Plc has unveiled plans to export the equivalent of one-quarter of Canada’s current daily natural gas production from a British Columbia terminal starting in 2021. The company, whose Canadian office is in Vancouver, has no reserves nearby.

The contradiction of an exporter with no gas has emerged as energy giants BG, Imperial Oil Ltd., Nexen Inc. and Australia’s Woodside Petroleum Ltd. join the growing queue of companies willing to spend billions on liquefied natural gas projects in order to capture higher prices overseas. continue reading