Ottawa’s steel safeguards could be putting LNG Canada’s 40 billion dollar Kitimat investment in jeopardy.
According to the joint venture, if temporary safeguards recently put in place by Ottawa become permanent, Canada’s reputation as a global leader in the energy market could be at risk.
Provisional safeguards were put in place in October on several steel products required by LNG Canada for the construction of their Kitimat plant.
Now, the Canadian International Trade Tribunal are holding a number of hearings in Ottawa to determine whether or not to extend these provisions over a 3 year period.
LNG Canada claims that, if extended, these provisions, intended to stall a surge of imported steel in light of US tariffs, could have a serious impact on investor certainty.
