A rare summer session in the B.C. legislature came to an end yesterday with the passing of the Liquefied Natural Gas Project Agreements Act. The passing will protect Pacific Northwest LNG from tax increases over 25 years, in the process creating around 4,500 jobs and bringing in revenues of approximately $9 billion.
In a release issued by the Province, Premier Christy Clark said, “Liquefied natural gas represents an extraordinary opportunity for people throughout the province. “This legislation sets the stage for building a clean, competitive new industry that gives British Columbians a fair share of the benefits – thousands of jobs, new connections for small and medium businesses, and new revenue to benefit B.C. for years to come.”
Pacific Northwest LNG is now waiting for approval from the Canadian Environmental Assessment Agency before the project can proceed.