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

Gil’s Girls win Harvey Walkus Memorial Ball Hockey Tournament in shootout

This year the tournament was held at the Don Cruickshank Memorial Arena on April 12-14.

LETTER: Homelessness in Port Hardy

“Let’s have that discussion on homelessness in Port Hardy.”

Op-ed: BC’s ferry system

“For years, people living in these communities have been ignored”

Tri-Port Wild hand out year-end awards

The Tri-Port Wild had three all female teams playing minor hockey this year.

Port Alice residents’ input on changes to health centre gets ignored

In ending her letter, Bjarnason called this proposal “an agreed upon model of care.”

UPDATE: Four victims identified in deadly Penticton shooting spree

John Brittain, 68, faces three counts of first-degree murder and one count of second-degree murder

Prince George sweeps to first-ever BC Hockey League crown

Spruce Kings beat Vernon Vipers 3-1 in the Okanagan Wednesday for 13th straight playoff win

Hwang’s first MLS goal lifts Whitecaps to 1-0 win over LAFC

Vancouver picks up first victory of season

Child-proof your windows ahead of warm weather: B.C. expert

Fifteen children were taken to BC Children’s Hospital for falls in 2018

B.C. trucker pleads guilty to lesser charges in fatal Manitoba crash

Gurjant Singh was fined $3,000 and given a one-year driving prohibition.

Study links preschool screen time to behavioural and attention problems

The research looked at more than 2,400 families

Island man guilty of child porn charges, Crown alleges 250,000 images

Psychiatric assessment requested by Crown, sentencing to be set June 4 in Nanaimo court

More than $100,000 raised for family of professional skier who died near Pemberton

Dave Treadway leaves behind his pregnant wife and two young boys

BC SPCA asks public for donations after puppy caught in trap

The puppy’s medical bills are expected to amount to more than $4,600

Most Read