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

Saanich Gulf-Islands’s Elizabeth May coy about leadership plans

The federal Green party leader talks possibility of running as MP without being leader

VicPD officer used siren, emergency lights to get kids to school: OPCC report

Annual misconduct report includes VicPD former chief Frank Elsner and other officers

VicPD return Victoria fugitive from France for attempted murder trial

Sebastien Normandin, 49, charged with attempts to hit former girlfriend with car

West Shore RCMP catches driver going 50 kilometres over speed limit

Driver caught on Veterans Memorial Parkway between Sooke and Kelly Roads

Scheer says Canada more divided than ever, as NDP and Bloc hold cards close

While Liberals were shut out of two key prairie provinces, they took two-thirds of the seats in Ontario

POLL: Are you satisfied with the result of the federal election?

The ballots have now been counted and the dust has settled on… Continue reading

Horvat’s hat trick lifts Canucks to 5-2 win over Red Wings

First career three-goal game for Vancouver captain

Runners brave wet, windy weather for Ucluelet’s 20th Edge to Edge

“The spirit of the runners I have nothing but compliments.”

Estheticians can’t be forced to wax male genitals, B.C. tribunal rules

Langley transgender woman Jessica Yaniv was ordered to pay three salon owners $2,000 each

Two youth arrested in UBC carjacking at gunpoint, after being spotted in stolen Kia

‘A great deal of credit is due the alert person who called us,’ said North Vancouver Sgt. Peter DeVries

Open house for Royal Beach tonight

The third open house to gather public input on Royal Beach takes… Continue reading

People’s Party of Canada’s anti-immigration views ‘didn’t resonate’ with voters: prof

Party was formed on anti-immigration, climate denying views in 2018

Windstorm knocks out power for 10,000 in north and central B.C.

Power slowly being restored, BC Hydro says

Most Read