LNG Canada CEO Andy Calitz listens to Premier John Horgan speak at announcement of the $40 billion project in Vancouver, Oct. 2, 2018. (B.C. government photo)

B.C. premier says final pieces of massive LNG Canada project now in place

The legislative assembly passed the Income Tax Amendment Act Thursday

The British Columbia government has secured the last steps of the fiscal framework for liquefied natural gas projects in the province.

The legislative assembly passed the Income Tax Amendment Act Thursday, and Premier John Horgan says that will secure the largest private-sector investment in Canadian history.

READ MORE: Chevron seeks NEB licence that could nearly double production at Kitimat LNG

The joint venture, which includes Petronas, Shell Canada Energy and PetroChina Canada Ltd., announced last year that LNG Canada’s $40-billion project on B.C.’s northern coast would proceed.

Changes to the Income Tax Act allow for the implementation of the tax credit for LNG development in the province.

Horgan says the government set four stringent conditions for liquefied natural gas production in B.C., including a fair return for natural resources, jobs for residents and partnerships with First Nations.

The premier says the LNG Canada project meets those conditions and is expected to generate $23 billion in government revenues.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

Tahltan reach benefits agreement over Seabridge’s massive KSM gold mine project

$308M agreement provides additional billions for Tahltan jobs, contracts

Researchers to flush Skeena with bright dyes for spill-response study

Kitsumkalum leading effort as rail transport of hazardous materials on the rise

Kitimat couple tops at His and Hers tournament in Prince Rupert

Final day comeback saw the pair edge out the competition

Feds announce funds to replace Kitimat’s Haisla River Bridge

Bill Morneau said Ottawa’s $275 million will also help fund high energy-efficient gas turbines

Gentlemen, and ladies, start your motors!

Kitimat Memorial Hill Climb 2019

Astronaut David Saint-Jacques returns to Earth, sets Canadian space record

Native of Saint-Lambert, Que., set a record for longest single spaceflight by a Canadian at 204 days

Thieves steal two $40K chairs featuring gold serpents from Vancouver furniture store

Chairs believed to be the only two of its kind in Canada, police said

Poll: Rising gas prices force B.C. residents rethink summer road trips

63 per cent of respondents reported gas prices are impacting their day-to-day finances

PHOTO: Moose cow and calf relax in Williams Lake flower garden

The homeowners got a surprise when they checked their most recent surveillance footage

Two in hospital after plane crashes in Okanagan Lake

RCMP say wheels left down caused landing plane to overturn on lake

The world’s Indigenous speakers gather in B.C.’s capital to revitalize languages

Organizers estimate about 1,000 delegates from 20 countries will be at the conference

Join talks on international treaty: B.C. First Nations mark ‘historic moment’

Representatives of the Ktunaxa, Syilx/Okanagan and Secwepemc Nations participated

Companies need clearer rules on workplace relationships, study suggests

One-third of Canadians have been in love at work, and half say no policy on the matter exists

‘Text neck’ causing bone spurs to grow from millennials’ skulls, researchers say

Technology use from early childhood causing abnormal bone growths in 41 per cent of young adults

Most Read