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B.C. Premier Reports Japanese Companies' Interest in LNG and Critical Minerals

Published 2 weeks ago3 minute read
B.C. Premier Reports Japanese Companies' Interest in LNG and Critical Minerals

British Columbia Premier David Eby is on a 10-day trade mission to East Asia—visiting Japan, South Korea, and Malaysia—to diversify provincial trade and promote key sectors such as mining, natural resources, softwood lumber, liquefied natural gas (LNG), and critical minerals. This strategic move aims to counter growing U.S. protectionism and tariff threats. During the mission, Eby has highlighted keen interest from Japanese conglomerates in B.C.'s LNG and critical mineral offerings, including copper and nickel.

Speaking from Osaka, Japan, Premier Eby detailed discussions with major Japanese companies like Mitsubishi and Nippon Steel. These firms expressed keen interest in B.C.'s resources and inquired about provincial plans for electrification, the North Coast Transmission Line, support for the mining sector, permitting processes, and collaboration with First Nations. A key point of discussion was the $40 billion LNG Canada project located in Kitimat, which recently commenced operations and is projected to export 14 million tonnes of natural gas annually. Eby noted that Japan's new energy strategy identifies natural gas as a vital bridging fuel as the country transitions away from heavy oil, all while maintaining its commitments to reducing carbon pollution and addressing climate change. The LNG Canada project is seen as a significant component of this strategy.

The trade mission occurs against the backdrop of potential U.S. tariff hikes. U.S. President Donald Trump's threats to double tariffs on steel and aluminum to 50 percent are a major concern. Eby highlighted that such tariffs would be detrimental to both Canadian and Japanese businesses. He emphasized that British Columbia's metallurgical coal, crucial for steel-making and a priority for companies like Nippon Steel, has a lower carbon footprint compared to coal from other global sources. In light of these external pressures, Eby urged the Canadian federal government to prioritize the removal of internal trade barriers to facilitate the flow of goods across the country.

Regarding domestic energy infrastructure, Premier Eby dismissed the idea of constructing a new oil pipeline through northern B.C. and reiterated his government's opposition to lifting the federal moratorium on oil tankers along the North Coast. This position stands in contrast to that of Ontario Premier Doug Ford and Alberta Premier Danielle Smith, who have advocated for a new pipeline. Eby affirmed his government's support for the existing taxpayer-owned Trans Mountain Pipeline.

The trade mission has not been without its challenges. B.C. Assembly of First Nations Regional Chief Terry Teegee announced his withdrawal from the delegation, citing concerns that recent provincial legislation (Bills 14 and 15), designed to expedite infrastructure projects, does not align with the Declaration on the Rights of Indigenous Peoples Act. Premier Eby stated that his government intends to engage with First Nations leadership in the province concerning regulations and the process for determining projects of provincial significance.

Furthermore, the mission has drawn criticism from the Opposition B.C. Conservatives, who described it as a "damage control junket." Teresa Wat, the Opposition's trade critic, pointed to the NDP government's closure of 13 trade offices in seven Asian countries in 2019, arguing that this has left the province needing to rebuild trade relationships from a disadvantaged position, especially when facing threats of increased U.S. tariffs.

While in Osaka, Premier Eby is also scheduled to meet with forestry companies and attend an exposition showcasing products made in British Columbia. The B.C. delegation, led by Eby, is expected to return on June 10. In Eby's absence, Deputy Premier Niki Sharma is representing British Columbia at a first ministers' meeting with Prime Minister Mark Carney.

From Zeal News Studio(Terms and Conditions)
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