​Alberta forming LNG Investment Team to boost natural gas value

Alberta Premier Rachel Notley. Image: Government of Alberta

The Government of Alberta has named two seasoned oil and gas leaders to form its LNG Investment Team.

Together they will work directly with industry to secure final investment decisions for export projects that will increase the value of Alberta's natural gas resources, the province said on Monday.

The LNG Investment Team is made up of Greg Stringham, former vice-president of markets and fiscal policy with the Canadian Association of Petroleum Producers, and John Carruthers, former president of Enbridge Northern Gateway Pipelines.

Their appointment responds to a key recommendation of Alberta’s Natural Gas Advisory Panel, which earlier this year provided advice 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.

“The investment team will begin meeting with industry leaders and other stakeholders immediately. They will report back to the Minister of Energy in early 2019 with potential actions that could be taken,” the province said.