Legislation to remove barriers for liquefied natural gas is welcomed
VANCOUVER, B.C. – With the barriers removed by the provincial government for the liquefied natural gas (LNG) industry, local mayors, First Nations, trades and business say they applaud the decision.
The opportunity for British Columbians to add value to natural gas and the new industry will create thousands of new jobs, trades apprentices, contractor opportunities across B.C. and new revenue for local, provincial and federal governments shares BC LNG Alliance.
The BC LNG Alliance, First Nations LNG Alliance, mayors across northern B.C., including in the towns of Kitimat, Terrace, Dawson Creek and Fort St. John, along with the BC Chamber of Commerce, BC Business Council, BC Building Trades, Build TogetHER and BC Centre for Women in Trades said the measures provide confidence that an LNG industry in B.C. will provide much-needed benefits for our province and Canada.
The LNG Canada project announced last October represents the largest private investment in Canadian history. Nearly $1 billion in contracts have been awarded or approved to regional, First Nations, British Columbian and Canadian businesses.
When first announced in March 2018, the BC LNG Alliance shares the Province’s fiscal measures for the LNG industry provided LNG Canada’s joint venture participants with confidence that the Province supported the project. Ensuring a framework for a competitive LNG industry must be a focus for the provincial and federal governments shared the BC LNG Alliance.
According to the BC LNG Alliance, the measures tabled today provide the LNG industry with a level playing field with other established industries in B.C. These include no industry-specific tax and a hydro rate that is the same industrial rate other industries pay. It is important for B.C.’s LNG projects to not face additional costs other LNG projects in development around the world do not pay, or B.C. risks losing new jobs and benefits, and the opportunity to add value to natural gas.
LNG from B.C. will set a global example by producing LNG with the lowest CO2 emissions per tonne of LNG compared to LNG export facilities anywhere in the world. B.C.’s responsibly- produced LNG has a critical role to play to help provide millions of people with less-polluted air and provide countries moving away from more carbon-intensive forms of electricity generation with the lowest-emissions intensity LNG in the world, supplied by British Columbia shares the BC LNG Alliance.
For example, LNG from LNG Canada’s export facility, when used to displace coal for electricity generation, will reduce global emissions by 60 to 90 million tonnes each year. This is equivalent to all of the CO2 B.C. produces annually, and 10 per cent of Canada’s emissions.