PNW Decision a ‘Tough Blow’ for Construction Industry – ICBA
Prince George, B.C. – “Deeply disappointed.”
The reaction this week from the Independent Contractors and Businesses Association in response to Petronas’ decision to scrap its plan to build the $11-billion Pacific Northwest LNG terminal on B.C.’s north coast.
“We are deeply disappointed that PNW will not go forward, as it means thousands of construction jobs will not materialize,” says ICBA president Chris Gardner.
The ICBA says the project would have created 4,500 construction jobs, 330 long-term operations positions, and up to $1.3 billion per year in government revenue.
“No jurisdiction does energy extraction in a better, cleaner, more socially responsible way than Canada,” adds Gardner. “This is a significant lost opportunity that would have brought many benefits. Canada has to act faster to seize the opportunities that our responsible resource development industries can deliver.”
In a statement Tuesday, Petronas said the decision was brought on by “the prolonged depressed prices and shifts in the energy industry.”
So, if the economic climate isn’t good enough for Petronas, what makes Gardner think other LNG projects will get the nod?
“Well, that’s a concern,” says Gardner, who notes there’s approximately 20 LNG projects that have been proposed in B.C. – all at varying stages in seeking their environmental and regulatory approvals.
“It’s a challenging environment and it could very difficult to get one of the major LNG projects across the line. The next biggest one that’s been approved by all levels of government is LNG Canada led by Shell but that’s been delayed and hopefully that moves forward but the same fate could bestow that project as well.”