The onus is now on the producers to firm up long\u002Dterm contracts and call the Quebec government’s bluff
But the Saguenay is not the only project that has been marooned by successive pieces of legislation over the past decade, banning development and fracking.
Questerre says shipping for its project would be along the south shore of the river and would not interfere with the marine park. The company says it has the support of the local First Nation and that its processes would result in a “near zero” carbon emissions footprint. It points out that that gas produces around one-third of the greenhouse gas emissions of oil, and as a “bridge resource” could be used to produce hydrogen.
Industry sources say that when Legault met with German Chancellor Olaf Scholz last fall, the premier told Scholz he had a public opinion problem in Quebec that could only be solved if people from outside the province asked for the province’s gas. The chancellor was in Canada last August on a three-day visit to explore energy security and clean-technology options.
Prime Minister Justin Trudeau looks on while German Chancellor Olaf Scholz speaks to the media in Stephenville, N.L., on Aug. 23, 2022, during a three-day visit to Canada.Firm commitments from Europe would seem to be the main stumbling block to any LNG development in Quebec. Germany has since signed a 15-year deal for LNG with Qatar, but that will only replace six per cent of the gas that Russia supplied before the Ukraine invasion. There is clearly a need for more, and the Germans have expressed a preference that it come from a trusted, reliable source like Canada.Article content
Questerre has discovered a field of up to 600 billion cubic metres of gas, or 21 trillion cubic feet . That’s a lot of gas — 1tcf roughly equates to around $1 billion.
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