Quebec LNG Proposal Aims for European Market Access

A free-market think tank, the Montreal Economic Institute (MEI), is advocating for the fast-tracking of a Quebec liquefied natural gas (LNG) project proposed by Marinvest to enhance Canada’s position in Europe’s US$40-billion LNG market, especially as Europe seeks alternatives to Russian gas. The MEI report highlights the geographical advantage of Quebec’s northeast coast for exports to Western Europe and projects that the facility could supply 6.2% of European imports in 2024, generating US$2.5 billion. With Norway’s gas production expected to decline, urgency is emphasized as Middle Eastern suppliers, such as Qatar, are already securing long-term contracts with European countries. The proposed project, similar to a previously rejected $14-billion initiative, should be expedited under federal legislation.

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