US EditionNew report casts doubt on revival of Quebec LNG project
- A report released on May 22, 2025, from Montreal highlights concerns about the economic feasibility of restarting an LNG export initiative in the Saguenay area of Quebec.
- The project faces challenges due to an 18 percent drop in European LNG demand from 2022 to 2024 and previous cancellation over environmental risks and public opposition in 2021.
- Gas production is expected to increase by 40 percent between 2024 and 2028, driven mainly by U.S. And Qatar projects, though demand will likely not match this growth.
- An advocacy group states inflation might raise the project’s cost above $33 billion, with public funding probable, while suggesting better economic stimulation methods like integrating electricity grids and mining minerals.
- The Premier of Quebec, François Legault, has recently shown some openness to discussions about pipeline development, but the report suggests that restarting the LNG export project would remain expensive, unlikely to turn a profit, and would face stiff competition in Asian markets.
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New report casts doubt on potential revival of Quebec LNG project
MONTREAL — Reviving a liquefied natural gas export project in Quebec's Saguenay region would be costly and likely unprofitable, a shareholder advocacy group says, as economic threats from the U.S.
Report Casts Doubt on the Economic Potential of LNG Québec - Le Haute Côte-Nord
Resuscitating the Québec LNG project would be a costly "false solution" for taxpayers with "uncertain economic foundations", according to Investors for the Paris agreement. Beyond the environmental debate, the gas pipeline and LNG terminal project in Saguenay to export Alberta natural gas would have to face several opposite winds if it were re-launched after a first refusal by Quebec in 2021 and the federal government in 2022, according to a rep…
·Sept-Iles, Canada
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