Monday, October 6, 2014

All about LNG as Legislature resumes sitting

The fall session of the British Columbia Legislature (a rare thing all to itself if recent history is any indication) will it appear for the most part to focus on the Premier's LNG ambitions, with a number of initiatives set to be delivered by the Liberal government.

With a warning shot from Petronas Chairman Shamsul Abbas suggesting that his company may abandon their plans for the 11 Billion dollar Pacific Northwest LNG project for Prince Rupert still ringing in their ears, the Liberals it seems are putting the finishing touches on their taxation regimen, a document that many industry officials will be watching for with great interest.

As we outlined on the blog during the recent UBCM sessions, Prince Rupert City Council perhaps received a bit of an early warning on the topic of LNG expectations, when Rich Coleman, the LNG Development Minister offered up his review of the current situation for the still developing industry.

His commentary on using the blue print of Prince Rupert taxation as a potential foundation for the upcoming revenue discussions, was something that surely must have caught the ear of the Prince Rupert delegation to those sessions.

What shape those provincial guidelines and revenue streams will look like, shall all be part of the discussion in Victoria over the next few months.

LNG is a topic that North Coast MLA Jennifer Rice has identified as one which she will be watching with interest as the session moves forward, making mention of the proposed developments for the North Coast in her most recent household mailer.

The debate out of Victoria on the topic will also be of key interest to those running in this year's Municipal Council races in Prince Rupert and Port Edward.

With local government watching with interest the progress of the large industrial proposals and the potential for development and major change that they may bring to the North Coast.

As well local observers will be looking to see if the Liberal government addresses concerns over the impact on infrastructure and social needs that such development will require.

All of which makes the potential financial return for local communities from that still to be delivered industry a key discussion point.

However some warnings of unrealistic expectations have already been delivered.

If recent events are to be considered, we may soon find that the expectations of today, won't match up with the numbers to be delivered in the future.

Some of the recent reviews on the future for LNG in the province can be found below:

CBC-- Christy Clark's LNG dreams tested in rare fall legislative session
CKNW-- B. C.'s anticipated LNG tax expected to dominate debate at B. C. Legislature
Globe and Mail-- Let's have a conversation about "the cleanest LNG in the world"
National Post-- Emissions control and LNG tax coming for B. C. Fall sitting
Victoria Times Colonist-- MLAs, protestors ready for action as Legislature sits next week
Victoria News-- Premier says B. C. needs temporary foreign workers
Vancouver Province-- B. C. Legislature to begin rare fall sitting on Monday
Vancouver Province-- Will B. C. gas the carbon tax to secure LNG?
Vancouver Province-- B. C. may be wrong to shrug off warning from Petronas on  $11 billion LNG deal
Vancouver Province-- Will Clark crack under pressure from Petronas?
Vancouver Sun-- B. C. signals drop in planned LNG taxes
Vancouver Sun-- Finish line out of sight and start line uncertain in race to develop LNG
Vancouver Sun-- Instead of LNG royalty cheques, another reality check
Global BC-- Christy Clark still banking on LNG

Update:  Petronas added more talking points for the LNG theme on Monday, with a statement that advised that unless both the Federal and Provincial governments increased the pace of their efforts, the prospect of the Prince Rupert project could be delayed at least fifteen years, our item on the announcement can be found here.

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