TSAWWASSEN, B.C. — “No problem.”
That’s the take, of B.C.’s Natural Gas Development Minister on the vote by the Tsawwassen First Nation to reject a Liquefied Natural Gas plant proposal.
The community has also approved the use of the land proposed as the LNG plant site, as part of a larger package for light industrial use.
Rich Coleman says he has no problem with the vote being billed as a final decision by Chief Bryce Williams.
The vote was close — 74 to 65 — but the majority was apparently prepared to lose the economic benefits to the First Nation and the chief says the referendum result will put to rest discussion of building the terminal.
Meantime, in ranking the 21 project list of LNG development proposals for the B.C. Coast, Mr. Coleman put this one dead last, and is focused on the top and not the bottom of the list.
None of the projects is as yet the subject of a final investment decision, but he still expects that to change early in the New Year.
Mr. Coleman added, he expects three more of those decisions in 2016, but it’s believed the drop in natural gas prices may be fuelling proponent hesitation.
With unseasonably warm weather in many parts of North America this fall there was less demand for natural gas, and the price has dropped this month below a $1.80 per 1,000 cubic feet, with shares of natural gas producers sinking to multi-year lows.