The Province of British Columbia and the National Energy Administration of the People’s Republic of China signed a Memorandum of Understanding (MOU) on Thursday to strengthen energy trade and investment.
“The continued growth of our economies depends on foresight and partnership,” said Premier Christy Clark . “With our dependable, abundant supply of natural gas and China’s need for new sources of energy, we have an opportunity like never before to work together and develop a strong, competitive LNG industry.”
The MOU emphasizes the development of an LNG industry and the benefits it will create for both British Columbia and China. This includes the reduction of China’s global carbon emissions with the use of B.C. natural gas – the world’s cleanest burning fossil fuel.
“Strengthening relationships with our trade partners in China creates unprecedented growth opportunities for our province’s natural gas sector,” said Minister of Natural Gas Development Rich Coleman . “Working together will accelerate LNG development and job creation in British Columbia and help China reach its need for a new energy supply.”
“On-the-ground work by B.C.’s Special Representative to Asia ( BCSRA ), Ben Stewart, paved the way for this signing which facilitates further investment in B.C.’s LNG industry,” said Minister of International Trade Teresa Wat .
With 16 LNG export proposals now in the province, British Columbia is poised to be a leading energy supplier for China and Asia’s growing economies. Development of an LNG industry will result in unprecedented economic growth and has the potential to create more than 100,000 jobs.
The MOU was signed between Deputy Premier and Minister of Natural Development, Rich Coleman, and the Wu Xinxiong , Administrator for the National Energy Administration.
Press Release, July 25, 2014