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year." He added that LNG output has fallen just three other times in the 50 years it has been produced: in 2008, when the global economy was in free fall, and in 1980 and 1981, when Algeria halted LNG exports to the United States over a price dispute. And, of course, the tighter market means that any unforeseen events such as Japan's Fukushima disaster, big weather events or sudden plant shutdowns, could push prices even higher. "From my work with overseas investors, I know first-hand that the demand for LNG in Asian markets is strong, and there's significant opportunity for our province to benefit from entering this new market," Premier Clark said in a report. "All signs are currently pointing to British Columbia taking its place among the global leaders in natural gas production and export. We will seize this opportunity by moving without delay, and we will not waver from our commitment to a sector that is built according to clear, strong and rigorous environmental standards." Federal energy minister Joe Oliver agrees. Asked if BC LNG could compete with gas sent to China via pipelines from Russia, he said the province must ensure it is competitive with other providers. But, he acknowledged, overseas buyers such as the Japanese and South Koreans want the product at domestic, not international, prices. What the price actually becomes will be determined by the marketplace but, Oliver added, buyers also want diversification of supply and a stable supply source, which could benefit Canada. The provincial government also sees that at the same time energy demand is increasing, the emphasis on clean solutions is also significant. "Natural gas is the world's cleanest burning fossil fuel and is in high demand for this reason," said a spokesman for the BC Ministry of Energy, Mines and Natural Gas. "The abundant supply of natural gas around the globe, and the competitive nature of the LNG industry, will offset an outcome where LNG prices are pushed off competitiveness." He said the province has been analyzing the energy demands of other countries and investigating the expected benefits of BC's LNG exports. "Our initial analysis points to significant environmental benefits as a result of a decreased use of coal-fired power generation and a greater use of natural gas in the transportation sector (instead of diesel)." Some are skeptical. They see the vast gas reserves sitting in China and Russia and wonder why Asian countries would need to contract for costly imports from Canada when gas is available nearby. Also, a supply glut is likely in the second half of this decade – just as the BC LNG terminals begin exporting product – as new supplies move from Australia, Africa and the US. And, importers may one day be resentful of the high LNG prices that seem to make BC's business case and return to other sources of power generation. "Although domestic natural gas production in China is expected to increase, the demand will increase at a faster rate," the Booking Stories for BTV! "The exposure we've had has been phenomenal, lots of feedback from our shareholders and other investors." – Charles Page, CEO Queenston Mining TMI:TSX TELL YOUR STORY TO OVER 100 MILLION HOUSEHOLDS! www.b-tv.com www.ceoclips.com 54 www.resourceworld.com Profiling Publicly Traded Companies on TV and Financial Portals APRIL 2013