As the International LNG in B.C. Conference wraps up tomorrow (May 23), the Mayor of Prince Rupert is hoping BC doesn’t lose the Liquefied Natural Gas race.
Jack Mussallem says proponents are eagerly awaiting the province’s tax regime.
“Everybody is hoping that these developments, if they’re going to go ahead, if the business case can be substantiated, that it’s done in a seamless manner. There are market conditions at play, there are other companies in the world that are also interested in selling Liquefied Natural Gas to Asia. There is a window of opportunity here, this is a great amount of awareness, and I don’t think anybody wants to miss that.”
He adds “I’m aware that the proponents are working on their business case, and certainly knowing the tax position of the province of British Columbia is critical, in terms of a business case.”
Petronas has proposed to build a multi-billion dollar LNG export facility near Prince Rupert.
The province’s proposed tax regime would impose a 7% tax rate once companies have recovered their capital costs.
A final decision is expected in November.