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

Nine fires burning in West Kootenay

All fires considered to be lightning caused.

West Kootenay afternoon storms spark fires

Lots of thunder and lightning, and little rain, as system moves through region

PLACE NAMES: Rossland neighbourhoods, Part 2

Early Rossland’s misaligned townsite additions frustrated the city engineer

Webster students find missing man

Man reported missing from his Warfield home Wednesday night

Getting to know you better: Rossland kids spend day with nature

Third annual bio-blitz brings kids more environmental awareness

10 facts about Father’s Day

Did you know that the special day for dads was first celebrated in 1910?

Bombers down B.C. Lions 33-23 in season opener

Former Lion Andrew Harris leads Winnipeg with 148 rushing yards

Northern B.C. family remembers murdered Indigenous woman with memorial walk

Still no closure for Ramona Wilson’s family 25 years later

B.C. university to offer mentorship program for former youth in care

Students using the provincial tuition waiver program will soon be able to form a community at KPU

You might not know these B.C. records are public

Hired a lawyer to file a civil claim? Those are published online

B.C. bus driver loses case to get job back after texting while driving full bus

An arbitator ruled that Tim Wesman’s phone usage was a “a reckless disregard for public safety”

Revamped B.C. Lions set to battle veteran Winnipeg Blue Bombers

The Lions’ first test of the season will be a big one

No business case for Trans Mountain expansion, says former environment minister

Cabinet is expected to announce its decision on the expansion of the Alberta-to-B.C. pipeline by Tuesday

LETTER: British Columbia’s forest industry crisis being made worse

Andrew Wilkinson warns of regulatory overload by John Horgan’s NDP

Most Read