CALGARY — Western Canada’s natural gas industry is welcoming B.C. government tax incentives aimed at jump-starting the much-delayed West Coast LNG industry.
The government says it hopes its moves will result in a positive investment decision later this year for the $40-billion LNG Canada liquefied natural gas export project which was put on hold in 2016 by proponents led by Royal Dutch Shell.
The CEO of Calgary-based producer Crew Energy Inc. says he remains cautious about whether the project will go ahead, pointing out that LNG Canada is still looking for relief from federal tariffs on fabricated steel modules it needs to import from Asia.
However, he says he’s pleased that the B.C. government is being proactive in offering inducements for the project.
He adds Canada needs alternative markets to the United States to get the best prices for its natural gas.
The Canadian Association of Petroleum Producers also welcomed Thursday’s announcement, noting it provides a fair return for B.C. gas, creates jobs, makes partners of First Nations and protects the province’s air, land and water.
Companies mentioned in this article: (TSX:CR)
The Canadian Press