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Kitimat LNG site which is under construction owned by Chevron and Apache LNG near Kitimat April 8, 2014.
Kitimat LNG site which is under construction owned by Chevron and Apache LNG near Kitimat April 8, 2014.
(John Lehmann/The Globe and Mail)

In race to tap LNG markets, Canada lags behind

A new report from Capital Economics on the global future of liquefied natural gas (LNG) contains a sobering message for Canada: We’re behind the curve. And it might end up costing us.

The report, released by the London-based economic research group Tuesday, projects that the world’s LNG exports are set to surge in the next few years, nearly doubling by 2020. This will be led by the boom in LNG facilities being developed in Australia, where capacity is set to quadruple in the next five years to become the world’s biggest LNG producer, as well as ambitious expansion plans in Russia and the United States.