There are 60 liquid natural gas regasification projects proposed for North America, while the market will likely support only 10 to 12.
One of the major challenges facing the projects, according to Calgary-based consultant Angela Tu Weissenberger, is secure supply of sufficient quantities of natural gas at commercially competitive prices.
Interestingly enough, Weissenberger's latest assessment of the opportunities in north eastern North America doesn't include any reference to Newfoundland and Labrador. That might have less to do with her knowledge of the project proposed for Placentia Bay as it does about the project's development timeline.
Proposing something is one thing. In a market where one in six proposed projects is likely to make it through to construction, maybe the Placentia Bay project doesn't enter the realm of being probable.
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