Canada Signs 20-Year LNG Export Deal With Germany for Up to 1 Million Tons a Year
Updated
Updated · The New York Times · May 26
Canada Signs 20-Year LNG Export Deal With Germany for Up to 1 Million Tons a Year
2 articles · Updated · The New York Times · May 26
Up to 1 million metric tons of LNG a year will be shipped from British Columbia to Germany under a 20-year agreement due to be signed in Berlin on Wednesday, with deliveries starting in the early 2030s.
The pact gives Canada a new long-term market for Pacific Coast gas while helping Germany replace energy supplies lost after it cut off Russia following Moscow's 2022 invasion of Ukraine.
Tim Hodgson, Canada's energy minister, is set to announce details in British Columbia, and the supply is tied to a planned C$10 billion export facility in the province.
The deal marks a breakthrough both governments had been pursuing for months as Germany faces fresh energy disruption linked to conflict in the Middle East.
Will Germany's C$10 billion Canadian gas deal solve its energy crisis or just swap one dependency for another?
Is floating LNG the answer to Europe's energy woes, or a costly gamble compared to accelerating homegrown renewable solutions?