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Sunday, January 20, 2019
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Home Energy News FSJ for LNG supports new tax breaks for LNG projects

FSJ for LNG supports new tax breaks for LNG projects

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FORT ST. JOHN, B.C. – FSJ For LNG is supporting the B.C. Governments move to support LNG development in the Province.

According to Alan Yu, the new policies will level the playing field for projects being considered for B.C.

Under the new framework natural gas developers, including LNG Canada, will get PST relief in line with the policy for manufacturing sectors.  Projects will be subject to repayment in the form of an equivalent operational payment, general industrial electricity rates consistent with other industrial users in B.C., and the elimination of the LNG income tax that had required LNG-specific tax rates.

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Yu says the Federal government is doing the opposite.  “The Federal Liberals insist on looking at the upstream and downstream of OIL and Gas projects but does not do the same for others.”

FSJ for LNG believes LNG will provide excellent opportunities for Fort St. John.  “In Fort St. John, we will no longer have up and down economic cycles with this new constant export market. LNG export will demand constant natural gas supply from our region which means more jobs will be created. This jobs and the pay slips they come with will be the economic driver for the    other business sectors in Fort St. John.”

Yu says he’s confident about the prospects of seeing an LNG industry in B.C. “If this sounds like I am already counting chickens before they are even hatched, I am. This is how confident I am about a new LNG Industry in Canada. I even feel Petronas is coming back to Canada and take full advantage of their investment in Progress Energy. With this new policy framework, they have all the reason to come back”

The Premier said his government would also expect the LNG Canada project to fit within the goals of the Province’s climate-change plan and, specifically, its legislated GHG reduction targets.

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