Canada is facing a very different gas future to the one it thought it had a few years ago. With oil and gas production declining, it looked as if Canada, like the US before it, would have to invest significantly in LNG import terminals to meet the growing demand of its own domestic base, as well as that of its biggest customer, the United States. As recently as 2008, LNG import projects abounded. But since the shale gas revolution in the US, which has resulted in Henry Hub prices falling to an average of around $4/MMBtu in 2011 and opened up the US to non-Alaskan LNG exports, Canada is now eyeing its own shale gas boom, and the possibility of LNG exports has become more attractive.
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