The announcement responds to a key recommendation of Alberta’s Natural Gas Advisory Panel, appointed in May 2018 to provide advice to the Minister of Energy on short- and medium-term actions Alberta can take to address persistently undervalued natural gas and extreme price volatility due to transmission, storage and market access challenges.
“Whether we’re talking about oil or natural gas, the details are different but the story is the same. Albertans are getting pennies on the dollar because we can’t get our resources to international markets, and our biggest customer has become our biggest competitor. We can’t sit on the fence like previous governments did. We must take the bull by the horns and fight for the full value of our natural gas.”
The LNG Investment Team is part of a broader made-in-Alberta oil and gas strategy that includes the aggressive expansion of energy upgrading opportunities within the province as the government takes short-term action to address the oil price differential crisis.
The investment team brings diverse experience and knowledge to this important work:
- Greg Stringham of GS3 Strategies
- John Carruthers of the University of Calgary School of Public Policy
They will be meeting one-on-one with industry leaders to understand their needs and advise government on steps to advance final investment decisions on LNG projects. They will report back to the Minister of Energy in early 2019. The appointment of the investment team follows the release of a report from the government’s Natural Gas Advisory Panel, Roadmap to Recovery: Reviving Alberta’s Natural Gas Industry.
The report outlines 48 technical and specific recommendations to grow the natural gas sector, including ways to improve pipeline capacity, regulatory standards and metrics, time frames for project approvals, transparency and accountability, and setting a vision for Canada’s natural gas industry. Government has accepted the report and will continue to consult with industry on priorities going forward.
“I want to thank Hal Kvisle, Brenda Kenny and Terrance Kutryk for this important work. It’s clear that Canada has taken a back seat when it comes to LNG development as our neighbours to the south move ahead at full speed. While the U.S. has more than 20 projects under review or already operating, Canada only has one moving forward. We cannot afford to be left behind in this investment window – the time to act is now. The experience and knowledge of the investment team we have created will help us secure long-term LNG investments that will create lasting jobs and value for Albertans.”
LNG investment team biographies
Greg Stringham is a well-known leader within Alberta and Canada’s oil and gas sector. For 20 years, he served as a vice-president with the Canadian Association of Petroleum Producers. He also spent six years with Alberta’s Department of Energy and is currently the president of GS3 Strategies, where he advises companies and governments.
John Carruthers is an industry leader with extensive experience in business development, finance negotiation, commercial agreements, Indigenous partnerships, public and government affairs and regulatory approvals. He is the executive fellow for the University of Calgary School of Public Policy.
Natural Gas Advisory Panel biographies
Hal Kvisle has over 35 years of experience as a leader in the oil and gas, pipeline, and power industries. Kvisle served as CEO of TransCanada Corporation from 2001 to 2010. He is chair of ARC Resources and a board member for Cenovus Energy and Finning International.
Terrance E. Kutryk
Terrance Kutryk is the former president and CEO of Alliance Pipeline Ltd. Previously, Kutryk served as senior vice-president of Midstream and Refined Products with Husky Oil Operations Ltd. He maintains an active management, commercial, operations, and due diligence consulting practice.
Brenda Kenny is the former president and CEO of the Canadian Energy Pipeline Association and has extensive experience in energy regulation, sustainability and strategy development. Kenny also spent a number of years with the National Energy Board and serves on a number of boards, including Emissions Reduction Alberta, and is board chair of Alberta Innovates.