One thing I note is that we shouldn't just get stuck on hydrocarbons. Ukraine also potentially—and Germany is very interested in this— could be a producer of hydrogen and use some of its current natural gas storage for hydrogen storage. Its storage capacities for gas are among the largest of any kind in Europe. It could be a European hydrogen hub as well.
There are forward-looking technologies in which Canadian companies could also become engaged, in terms of natural gas as a transition fuel given its carbon footprint, which is lower than that of other hydrocarbons.
I would say the priority should be on helping Ukraine develop its own domestic supplies. The discussion on Nord Stream 2 versus Ukraine is really one in which people say Ukraine will lose transit revenues. Yes, it will. What it's more worried about is that as soon as Nord Stream 2 goes on stream, Russia is free to attack basically the infrastructure in Ukraine because it no longer has to worry about cutting off its own revenue opportunities by selling gas to Europe. Focusing on improving Ukraine's domestic production, and then already transitioning to a future in which hydrogen and other alternative fuel are used are probably the two areas where we can be most helpful.
I am with Mr. McMillan on the potential of liquid natural gas, but let's face it: given Canadian infrastructure-building tempos, that's not going to be on tap in the next three to five years.
