VANCOUVER (NEWS 1130) – The provincial government says its approval of the $36 billion dollar Petronas-backed Pacific Northwest LNG plant will provide 4500 jobs.
Finance Minister Mike de Jong says he expects British Columbians to view a proposed liquefied natural gas plant deal with Malaysian state-owned energy giant Petronas as reasonable and rational.
He says the billions of dollars in projected provincial revenues will be accepted as a reasonable trade-off for the tax incentives government is giving the company.
De Jong says the proposed plant near Prince Rupert is projected to generate nine billion dollars in government revenues in a decade.
The NDP’s Bruce Ralston says this deal does little more than give Premier Christy Clark a commitment to start the project before the next election.
“It locks in the taxes, corporate income tax, carbon tax, environmental standards for this company for 25 years,” he says.