Conference Board of Canada reports that B.C. will see the largest growth of any province in 2015
LNG projects would be “a game changer”
The Conference Board of Canada released its Provincial Outlook: Winter 2015, and expects economic growth in British Columbia to outpace all other provinces in Canada. British Columbia’s economy grew by 2.8% in 2014, with growth in 2015 expected to reach 2.9%. In addition to the nearly 3% economic growth, the report is also bullish on real domestic product growth, with the forecast calling for 2.7% increase from real GDP in 2014.
While some provinces are expected to be negatively impacted by the sharp fall in oil prices since last June, only two of the ten provinces
are expected to see negative growth. Ontario, Manitoba and B.C. are all expected to lead economic growth in Canada in 2015.
The strong growth in B.C. is expected to come from a steady housing market and strong economic ties to the United States. Uncertainty remains regarding the future of the liquid natural gas market in British Columbia, but the report says that if LNG projects do move forward, they “would be a game changer for British Columbia’s energy sector.”
The long-awaited decision from Petronas on whether or not to proceed with a $36 billion LNG project in British Columbia is expected sometime this year.
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.
