John Alexander

250-793-4934
 

FACTSHEET: LNG project proposals in British Columbia

Wednesday, February 11, 2015 9:00 AM

These are the export projects in various stages of development as of February 11, 2015:

 

Aurora LNG
Website: http://www.cnoocltd.com
Proponent: CNOOC Limited's wholly-owned subsidiary Nexen Energy ULC/ INPEX Corporation/JGC Corporation
Location: Digby Island

Cedar LNG
Website: http://haisla.ca
Proponent: Cedar LNG Export Development Ltd.
Location: Douglas Channel, Haisla project lands

Discovery LNG
Website: www.discoverylng.com
Proponent: Quicksilver Resources Canada
Location: Campbell River

Douglas Channel Energy project
Proponent: AIJVLP, a limited partnership between AltaGas Ltd. and Idemitsu Kosan Co., Ltd., EDFT Trading and EXMAR
Location: Kitimat (floating facility)

Grassy Point LNG
Website: http://www.woodside.com.au
Proponent: Woodside Energy
Location: Grassy Point, north of Prince Rupert

Kitimat LNG
Website: http://www.kitimatlngfacility.com/
Proponent: Chevron Canada and Woodside Petroleum Limited
Location: Kitimat

Kitsault Energy project
Website: www.kitsaultenergy.com/
Proponents: Kitsault Energy Ltd.
Location: Kitsault

LNG Canada
Website: http://lngcanada.ca/
Proponent: Shell Canada and their co-venture partners - KOGAS, Mitsubishi, and PetroChina
Location: Kitimat

NewTimes Energy
Proponent: NewTimes Energy Ltd.
Location: Prince Rupert area

Orca LNG
Website: http://orcalng.com/
Proponent: Orca LNG Ltd.
Location: Prince Rupert

Pacific Northwest LNG
Website: http://pacificnorthwestlng.com/
Proponent: PETRONAS/Progress Energy/JAPEX
Location: Prince Rupert

Prince Rupert LNG
Website: http://www.princerupertlng.ca/
Proponent: BG Group
Location: Prince Rupert

Steelhead LNG
Website: www.steelheadlng.com
Proponent: Steelhead LNG Corp. and the Huu‐ay‐aht First Nations
Location: Sarita Bay, Vancouver Island

Stewart Energy LNG
Website: www.stewartenergy.ca/en/
Proponent: Canada Stewart Energy Group Ltd.
Location: near Stewart, British Columbia

Triton LNG Limited Partnership

Website: www.altagas.ca/ or www.idemitsu.com/
Proponents: AltaGas Ltd. and Idemitsu Canada Corporation
Location: No site has been chosen, but Kitimat and Prince Rupert are under consideration.

WCC LNG Ltd.
Website: www.exxonmobil.com/ or www.imperialoil.ca/
Proponents: ExxonMobil Canada Ltd. and Imperial Oil Resources Limited
Location: Tuck Inlet, Prince Rupert

Watson Island LNG
Website: http://princerupert.ca
Proponent: Watson Island LNG Corporation
Location: Watson Island near Prince Rupert

WesPac LNG
Website: http://wespac.com/
Proponent: WesPac Midstream - Vancouver LLC
Location: Delta

Woodfibre LNG Project

Website: http://www.woodfibrelngproject.ca/
Proponent: Woodfibre Natural Gas Limited
Location: Squamish

In addition to the export projects above, these domestic LNG facilities are operating or proposed in the province:

AltaGas
Website: www.altagas.ca/
Proponent: AltaGas Ltd.
Location: proposal to build small LNG facilities throughout northern B.C.

Mt. Hayes Natural Gas Storage Facility
Website: www.fortisbc.com/
Operator: FortisBC
Location: Ladysmith

Tilbury LNG facility
Website: www.fortisbc.com/
Operator: FortisBC
Location: Tilbury Island in Delta
*Note: This facility is undergoing an expansion. WesPac LNG is proposing to export supply from the facility following the expansion project.

Contact:

Sandra Steilo
Media Relations
Ministry of Natural Gas Development
250 952-0617 

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Strong Growth Expected for Commercial Real Estate Sector in 2015

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BCREA <bcrea@bcrea.bc.ca>

6:00 AM (2 hours ago)
 
to me

For the complete news release, including detailed statistics, click: here.

For immediate release

Strong Growth Expected for Commercial Real Estate Sector in 2015

Vancouver, BC – March 5, 2015.  The BCREA Commercial Leading Indicator (CLI) rose 0.8 index points to 119.8, the fourth consecutive quarterly increase. The continued advance in the CLI trend points to optimism surrounding the economic environment underlying the commercial real estate market.

“Rising consumer confidence combined with a lower value of the loonie and a strengthening US economy helped to push the economic activity component of the CLI higher in the fourth quarter,” said BCREA Economist Brendon Ogmundson. “A stronger provincial economy in 2015 will support increased commercial real estate activity this year.”

The rising trend in the CLI generally points to growth in investment, leasing and other commercial real estate activity two to four quarters ahead. Therefore, the positive increase in the trend component of the CLI for the fourth quarter of 2014 signals positive growth for much of 2015.

- 30 -

To view the full BCREA Commercial Leading Indicator index, click here.

For more information, please contact:

Brendon Ogmundson Damian Stathonikos
Economist Director of Communications and Public Affairs
Direct: 604.742.2796 Direct: 604.742.2793
Mobile: 604.505.6793 Mobile: 778.990.1320

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.

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Ottawa grants tax breaks for LNG sector in B.C.

 

 
 
 
 

Ottawa has agreed to grant tax relief to proposed B.C. liquefied natural gas terminals, hoping the incentive will help persuade LNG backers to make final investment decisions.

Prime Minister Stephen Harper announced the federal tax breaks for B.C.’s fledgling LNG sector during a visit to Surrey on Thursday, saying lower taxes on industry players will spur economic activity.

While there are 19 LNG proposals, none of the proponents have made the decision yet to forge ahead with investing billions of dollars needed to export natural gas in liquid form to customers in Asia.

The pending changes to capital cost allowance rules mean that B.C. LNG projects will be able to take advantage of breaks pegged to asset depreciation rates.

“This will create investment that would obviously not occur,” Mr. Harper said. He added that while the tax changes will be crucial for LNG projects, “the actual cost in our fiscal framework is quite modest” – perhaps an initial impact of less than $50-million in revenue to federal corporate tax coffers until 2020.

The B.C. LNG Alliance and the provincial government have been advocating for better fiscal rules federally for planned export terminals, saying the manufacturing sector already enjoys favourable tax treatment.

Pacific NorthWest LNG, a joint venture led by Malaysia’s state-owned Petronas, praised Ottawa for the tax relief that will be in effect for nearly 10 years.

“The government of Canada is delivering on its goal to diversify and grow Canada’s energy exports,” Pacific NorthWest LNG president Michael Culbert said in a statement. “Pacific NorthWest LNG has the potential to generate over $1-billion in tax revenues to all levels of government each year.”

Ron Loborec, an energy expert at Deloitte & Touche LLP, said the tax deductions are important. “I see this as a valuable shot in the arm and incentive that makes B.C. more competitive,” he said.

Premier Christy Clark welcomed the new depreciation formula for equipment and buildings at B.C. LNG terminals.

“The change the federal government has made is going to be a big help in making sure LNG companies get to that final investment decision,” she said. “We were really persistent. The federal government was curious. You have to make your case.”

The B.C. government, which unveiled its provincial LNG tax structure last October, is counting on three LNG projects operating by 2020, with hopes that one of those will be a major exporter.

“To the extent this makes it an easier environment for investment, that’s really good,” Ms. Clark said.

Industry analysts caution that there is only room for four B.C. LNG export terminals at most due to fierce global competition from rivals such as Australia.

B.C. LNG proponents are conducting further studies before making their final investment decisions.

“We view this as a positive step by the government of Canada and this will help increase the fiscal certainty that we’ve been looking for,” said David Keane, president of the seven-member B.C. LNG Alliance.

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