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

Campbell River teen on the mend a year later

Jonah Shankar’s treatment for brain tumour involved trips to UK

Skipping school costs a dozen Vancouver Island students chance at a new car

Cowichan Secondary’s Jared Lammi showed up and won $5,000 cheque toward vehicle, but he can’t drive

Province steps up for Island toddler’s treatment

Lake Cowichan’s Charleigh Fales only one in B.C. diagnosed with rare CLN2 Batten disease

Average housing prices would have to drop by $413,000 for Victoria to become affordable

Alternatively, salaries need to increase to $134,000 per year, more than double current levels

Vet services for Victoria’s pets of the homeless cancelled for first time in a decade

Vets for Pets faces a volunteer shortage that’s forced the group to cancel its recent service

Oak Bay mom describes finding son ‘gone’ on first day of coroners inquest into overdose death

Jury to make recommendations based on death of Elliot Eurchuk, 16

Suicide confirmed in case of B.C. father who’d been missing for months

2018 disappearance sparked massive search for Ben Kilmer

Sproat Lake fire held today, but not yet under control

Two-hectare fire is located at Taylor Flats close to Highway 4 west of Alberni

New secondary school planned for north Langford

Province announces $18.6 million in funding for site

Victoria mandates 20 per cent of large new housing developments be affordable

After years of back and forth, inclusionary housing policy will be ratified in two weeks

Man suffers burns, dog dies in fire in Nanaimo

Structure burns down on Clifford Road property in Cedar

Dash-cam video in trial of accused cop killer shows man with a gun

Footage is shown at trial of Oscar Arfmann, charged with killing Const. John Davidson of Abbotsford

Eight U.S. senators write to John Horgan over B.C. mining pollution

The dispute stems from Teck Resources’ coal mines in B.C.’s Elk Valley

Threats charge against Surrey’s Jaspal Atwal stayed

Atwal, 64, was at centre of controversy in 2018 over his attendance at prime minister’s reception in India

Most Read