IISD Events 246d ago

On June 30, Canada shipped its first LNG exports from the coast of British Columbia. While LNG is intended to diversify Canada’s exports and boost energy security abroad, it has been consistently linked to energy insecurity in some of Canada’s closest partners in East and South Asia and Western Europe. Despite these risks, the governments of Canada and British Columbia have contributed billions of dollars to support LNG exports. These subsidies come as the world is still recovering from a wave of inflation, triggered in part by a gas supply shock in Europe that highlighted the risk of overreliance on fossil fuel imports. More recently, United Sates-led tariffs have disrupted international trade and investor confidence, adding further risk for LNG buyers and sellers alike. Governments in Europe and Asia are now considering how to insulate themselves from similar geopolitical and economic shocks going forward. Long-term demand for Canadian LNG is in question, undermining the rationale for governments to fund expansion. This webinar, the first in a two-part series, spotlights the IISD report Launching a Loss, with author Danielle LaBrash outlining the extent of public subsidies for Canadian LNG and the economic risks in the case of weakening demand. Experts on European and Asian LNG markets then outline regional demand trends and explain why doubling down on LNG would likely undermine energy security and decarbonization goals. A second webinar, will continue this discussion by highlighting the economic risks for households and businesses in LNG-exporting countries like Canada.