B.C. Government Releases Details of Pacific NorthWest LNG Deal
Posted on Jul 7, 2015 in Canada & Mexico, Liquefaction, LNG Exports, Markets and Competition, Policy, Legislation and Politics | Comments Off on B.C. Government Releases Details of Pacific NorthWest LNG Deal
CBC News reports that British Columbia (B.C.) Finance Minister Mike de Jong has released details of the province’s $36-billion deal with Petronas-led Pacific NorthWest LNG (PNWLNG) to encourage construction of a liquefaction and LNG export terminal near Prince Rupert. According to the CBC News article, B.C. has agreed, for a period of 25 years, “to compensate [PNWLNG] if taxes on the industry are raised, natural gas tax credits are reduced or new carbon taxes targeting the LNG sector are imposed.” The Province reports that the B.C. Legislature will meet next week to debate the deal and, if approved, PNWLNG will have two years to make a final investment decision to start the project.