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$40 billion LNG Canada pipeline project in BC gets green light

05 Октября 2018

A second phase of the project could follow in 2023 after the first part of the liquefaction facility is up and running.

The project will also receive $215 million in federal funds for infrastructure and environmental performance measures, making it the single largest government investment in the Canadian private sector.

NDP support for the pipeline could divide the ruling NDP and the B.C. Greens, whose support Horgan needs to maintain government.

"Adding such a massive new source of GhGs means that the rest of our economy will have to make even more sacrifices to meet our climate targets", Weaver said in a release. "I believe we can create far more jobs in other industries that won't drastically increase our emissions".

"It validates the reality that in B.C. projects can be done if it is done in the right way when it comes to resource development through a process of building relationship before we build the project", he said.

For one, there's the difference between the two fuels, says Horgan. Elected leadership of 25 First Nations - and that's a huge amount of support - recognized the positive impact this will have at a societal level for our communities.

"It will be significantly challenging for all of us but with the revenue, some $23 billion coming to the province from this project, we will be able to innovate, work with renewables, work with Shell and the joint venture partners to bring down emissions over the long term".

"We've never had an opportunity like this, where our government and our programs and services aren't dependent on other government sources for funding", she said.

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"B.C. taxpayers will subsidize its power by paying rates twice as high and taking on the enormous public debt required to build Site C. There may be as little as 100 permanent jobs at LNG Canada". "This is a spectacular day for all British Columbians", he said.

Getting the LNG project off the ground could be considered a win for the Trudeau government, which has struggled to get major energy projects built in Canada.

"The LNG Canada facility will be built in Kitimat, B.C".

What the step-change in LNG did make more hard was financing new LNG projects, which typically cost billions of dollars, take at least five years to build and have long payback periods for investors. The fall session of the legislature began Monday, and the NDP is expected to introduce legislation exempting the project from PST on construction. The first liquefied natural gas from the project is expected before the middle of the next decade.

The same sentiment was echoed by the Calgary energy sector, where natural gas producers have been desperate for more markets to sell their gas.

Kinder Morgan Inc. sold the oil pipeline to the government for $4.5 billion after the US energy giant said it faced "unquantifiable" political and regulatory risk.

"Climate change knows no borders, and as we reduce and replace coal plants around the world, LNG, done properly, done responsibly, here in British Columbia and across western Canada, that's good news for all of us", he said.

While the project is expected to provide a boost to the Canadian energy industry, some analysts asked whether the price tag could be tough on Shell. Using the province's figures, LNG Canada will account for nearly 9 per cent of B.C.'s total allowable emissions.

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$40 billion LNG Canada pipeline project in BC gets green light