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Province promises 4500 jobs under new LNG agreement

(NEWS 1130 File Photo)

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.