BC and Pacific Northwest LNG to Sign MOU
Victoria, B.C. – The Provincial government is entering into a memorandum of understanding with Pacific Northwest LNG that is designed to move forward a $36 billion dollar investment in LNG.Premier Christy Clark says the agreement will only be final after approval by Pacific Northwest LNG’s partners (including PETRONAS) have reviewed and approved it, and then it will be introduced in the legislature where it will be debated before receiving final approval.
Pacific NorthWest LNG plans to build an LNG facility on Lelu Island, located in the District of Port Edward on land administered by the Prince Rupert Port Authority. The first phase of the project would consist of two liquefaction trains, two LNG storage tanks, marine infrastructure with two berths for LNG carriers, a material
offloading facility, as well as administration and auxiliary buildings. The facility would liquefy and export natural gas produced by Progress Energy Canada Ltd. in Northeast B.C. for transport to Lelu Island by the Prince Rupert Gas Transmission project.
The agreement is considered a major milestone prior to the company making a final investment decision.
Premier Clark says the Province has taken four steps towards remains committed to four principles on LNG development :
1.Establish a competitive tax rate
2. development of jobs for British Columbians by ensuring B.C. residents are prepared for the jobs that will be available
3. ensure the LNG produced is the cleanest possible
4. Continue working with First Nations.
“There are 19 proposals for LNG across the province right now” says Premier Clark “We all know not every single one of them will go ahead, but we also know some of them will and we very much hope and we very much hope this will be one of them.”
The Premier added “Today is further proof that our global investors look at us in British Colmbia and know that we mean what we say, that we deliver on our promises and we deliver on time. Of course trust is important, because in order to attract investment, in order to create 100 thousand jobs for families across the province, we need to know our customers need to know, we can be trusted.”
“This is a good day for clarity and predictability” said President of Progress Energy Canada President and Pacific Northwest LNG , Michael Culbert.