Global News

VICTORIA – A major player in British Columbia’s liquefied natural gas sweepstakes has plans to spend up to $40 billion to build a proposed export facility on the province’s northern coast that could generate up to $39 billion in tax revenues over its lifespan.

The massive dollar figures were part of LNG Canada’s environmental certificate application released Friday by the joint venture company that includes Shell Canada Energy (TSX:SHC), PetroChina, Korea Gas Corp. and Mitsubishi Corp.

The B.C. government’s Environmental Assessment Office accepted the application, triggering a 180-day review phase, which includes public meetings in Kitimat, where the plant would be built, and in nearby Terrace.

“LNG Canada is proposing to spend between $25 billion and $40 billion on construction and between $7 billion and $17 billion per year during 25 years of operation, with decommissioning expected to cost between $2.1 billion and $3.3 billion,” the application stated. “The project…

View original post 451 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s