Liquefied Natural Gas, also referred to as LNG, is natural gas cooled in the process known as liquefaction, to minus 161 degrees centigrade. Cooling natural gas in this manner reduces its volume by 600x and turns it from a gas to a liquid. The LNG is then transported all around the world using specialized ocean going tankers. At its destination the LNG is returned back into a gaseous form for use.
Canada is the world’s third largest producer of natural gas with average annual production of 6.4 trillion cubic feet (tcf). North America has over a century of natural gas supply at today’s consumption levels. This abundant supply will ensure that natural gas continues to be a capable, reliable, secure, safe, and environmentally acceptable fuel.*
Global demand for natural gas is continuing to increase as economies in both developed and emerging countries continue to grow. Areas such as Europe, India, China and Asia are leading the overall future demand for LNG, as they convert to cleaner and more cost competitive energy sources to fuel their economies. According to the International Energy Agency (IEA), global demand for energy is expected to rise by 40% by 2035. This includes a 55% increase in demand for natural gas. Goldboro LNG is well positioned to meet the demand.
The location of Goldboro, Nova Scotia gives the Goldboro LNG project a strategic advantage. The coastal proximity and access to existing gas pipeline infrastructure will make it the gateway to the global markets for North American LNG.
Goldboro LNG will be the East Coast of Canada and the United States’ closest mainland LNG export terminal to Europe and India. Its location in Nova Scotia provides substantial advantages for transporting LNG to key markets. Goldboro is located adjacent to the Maritimes & Northeast Pipeline, a 1,400-kilometre transmission pipeline system built to transport natural gas between developments in Nova Scotia, Atlantic Canada and the northeastern United States. For more information on the Maritimes & Northeast Pipeline, visit www.mnpp.com.
*Source: Canadian Association of Petroleum Producers