Canadian energy leaders gathered in Calgary this week to deliver an urgent message they have been delivering with the same urgency for approximately fifteen consecutive years: Alberta has a narrow, rapidly closing window to grow its liquefied natural gas sector, and that window will remain narrow and rapidly closing for the foreseeable future.
"We have a lot of advantages, but we also have a window of opportunity," said one executive, gesturing at a slide deck that has been carefully updated to change only the dates. "If we don't capture this in the next three to five years, others will fill that gap. That's why it was so important that we capture it in the previous three to five years, and the three to five years before that."
Analysts noted that the LNG opportunity has been classified as "generational" since at least 2011, making it one of the longest-running generations in recorded history. "By any reasonable definition, the generation that was supposed to benefit from this is now applying for early CPP," said one observer. "But the window remains open. It has, in fact, never closed, which is itself a kind of miracle of structural engineering."
The leaders called for streamlined regulations, faster approvals, and a renewed sense of urgency, the same three things they called for last quarter, when the urgency was also renewed. Provincial officials responded enthusiastically, announcing a new task force to study the feasibility of acting, with findings expected in three to five years.
"The market is moving fast," warned another CEO, who has personally warned that the market is moving fast at every annual general meeting since the iPad was a new product. "Qatar isn't waiting. Australia isn't waiting. We cannot afford to wait either, which is why we have scheduled a panel about not waiting for early next year."
Premier Danielle Smith praised the sector's vision, noting that few industries demonstrate such consistent commitment to being on the verge of something. At press time, the generational opportunity had been respectfully carried forward to the next fiscal year, where it would once again be in grave danger of slipping away.