Good news, Canada! Construction is set to begin on the $40 billion liquefied natural gas (LNG) project located in northern British Columbia.
This massive project, which represents the largest energy investment in Canada’s history, is expected to bring huge economic benefits to both the province and nation through increased private sector revenues, employment opportunities and government revenues.
This LNG Canada project will have a new pipeline built by TransCanada running from the northeast B.C. interior close to the Alberta border at Dawson Creek to a newly-built processing refinery on the west coast in Kitimat.
About $22 billion in direct tax revenues for government will be generated by the project, as estimated by the B.C. Ministries of Finance and Energy. Furthermore, around 10,000 people will be employed during its construction and up to 950 permanent jobs will be needed to maintain its operation once completed. Also see:
Let’s just hope that this isn’t the last major energy infrastructure to be approved in our country. Many top executives and CEO’s in the oil and gas industry are warning that up and coming Bill C-69 will cripple the industry! Get involved and...
Approved by Investors, Approvals in Place
This comes in the wake of approval from investors from five different countries in the evening of Monday, October 1st. They are:
- Korean Gas Corp.
- PetroChina Co.
- Mitsubishi Corp.
- Royal Dutch Shell
According to LNG Canada’s CEO Andy Calitz, the project is set to move forward immediately with construction commencing on both the pipeline and the plant. He also mentioned that the massive energy project has already received the necessary approvals to break ground.
The Department of Fisheries and Oceans, National Energy Board and BC Hydro join 25 First Nations communities in giving LNG Canada the approvals it needs to date.
To give these investors the incentive to go ahead with the project, the B.C. government offered them a break on the carbon tax and provincial sales taxes for materials and other costs associated with construction.
Least GHG Intensive Large LNG Facility in the World
According to data from the provincial government, this massive LNG facility is projected to emit the least amount of greenhouse gases when compared to others like it around the world.
Liquefied natural gas produced at the new refinery in Kitimat will have fewer carbon emissions per tonne when compared to that produced at other similar facilities in other nations.
This is a prime example of Canada’s commitment to producing oil and natural gas to the highest environmental standards in the world. Natural gas that will be produced by the new LNG Canada refinery will be a win for the global environment!
Demand for Energy is on the Rise
If you think the demand for non-renewables is on the decline, think again! Truth is that the worlds will need about 40 percent more energy than it uses today over the next two decades, a lot of which will still come from petroleum.
There’s room for all types of energy sources to fill this void – from solar to wind to LNG – because the world will need every last bit. LNG Canada’s project is set to fit just a fraction of the rising global demand for LNG in Asian and European markets in the coming years.
Canadian-Produced Energy = Win for the Environment
If anyone is producing oil and natural gas, it should be Canada! Of the world’s top 10 oil exporters, Canada is a leader in:
- Clean technology
- Social progress
That’s why we need other major projects like the TransMountain Expansion to also go ahead. Canadian oil and gas is produced to the highest environmental and human rights standards in the world; Canadian-produced oil and natural gas is a win for the global environment!
What YOU Can Do
Showing your support for major Canadian energy projects like the Trans Mountain Expansion and Keystone XL is more important now than ever before. Here’s some things you can do:
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