FOR IMMEDIATE RELEASE
September 28, 2016
Pacific NorthWest LNG Project Approval
A Positive Signal for Beleaguered Oil & Gas Services Sector
The Government of Canada’s approval of the Pacific NorthWest LNG project was welcome news to the Petroleum Services Association of Canada (PSAC) and its members signaling that the federal government is serious about finding ways for Canada’s natural gas resources to reach global markets and that we are open for business.
Pacific NorthWest LNG can now move forward with their evaluation of the conditions attached to the federal approval and other factors in order to make a final investment decision.
“This project would not only create thousands of jobs in the construction phase, but also through the lifespan of the operation providing jobs for the ongoing development and production of natural gas for the facility”, says Mark Salkeld, President & CEO of PSAC.
“The oil and gas services sector has been devastated by the duration of this low commodity price environment laying off tens of thousands of workers and companies becoming insolvent with the lack of work. This news offers a glimmer of hope that more investment in the development of our natural gas lies ahead.”
Canada is a responsible developer of its natural gas and with its abundant resources, is ideally suited and positioned to be the supplier of choice to the world. Even as countries move to renewables, Canadian natural gas can be the transition and back-up fuel for solar and wind with their intermittent output.
The federal government’s approval of this project with attached conditions demonstrates its commitment to growing the economy and supporting jobs for the middle class while protecting the environment and for this we applaud them.
The Petroleum Services Association of Canada (PSAC) is the national trade association representing the service, supply and manufacturing sectors of the upstream petroleum industry. PSAC is “Working Energy” and as the voice of this sector, advocates for its members to enable the continued innovation, technological advancement and in the field experience they supply to Canada’s energy explorers and producers, helping to increase efficiency, improve safety and protect the environment.
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PSAC Media Contact:
Mark Salkeld, President & CEO
403.781-7383 / 403.993.5748