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

Surrey Board of Trade fears SkyTrain expansion will impede other transit needs

‘We need transit improvements in all of Surrey,’ Anita Huberman says

Surrey RCMP, firefighters support Cloverdale boy’s lonely lemonade stand

Parker, 7, had few takers until Surrey first responders heard his call

North Delta Secondary teacher up for B.C. education award

Prabhjot Grewal is up for a Premier’s Award for Excellence in Education in the Outstanding New Teacher category

Public hearing set for two Surrey modular housing projects for homeless

Surrey council set to vote Monday on projects in Guildford, Whalley

Rich the Vegan scoots across Canada for the animals

Rich Adams is riding his push scooter across Canada to bring awareness to the dog meat trade in Asia

Recall: Certain Pacific oysters may pose threat of paralytic shellfish poisoning

Consumers urged to either return affected packages or throw them out

How a Kamloops-born man helped put us on the moon

Jim Chamberlin did troubleshooting for the Apollo program, which led to its success

Sexual harassment complaints soaring amid ‘frat boy culture’ in Canada’s airline industry

‘It’s a #MeToo dumpster fire…and it’s exhausting for survivors’

How much do you know about the moon?

To mark the 50th anniversary of the first lunar landing, see how well you know space

Body, burning truck found near northern B.C. town

RCMP unsure if the two separate discoveries are related

Former Fernie Ghostrider re-signs with Vancouver Canucks

Josh Teves has signed a two-year contract with the NHL team

Couple found dead along northern B.C. highway in double homicide

Woman from the U.S. and man from Australia found dead near Liard Hot Springs

Most Read

l -->