There is a great deal of speculation about whether the much-touted liquefied natural gas (LNG) industry will get off the ground in B.C., in light of a statement by the CEO of Petronas, the Malaysian company which many observers felt was most likely to proceed with an LNG plant.
The next two years will be the proof, when final investment decisions by a number of companies will be made. Much of the holdup is due to the tax structure the province is considering for LNG plants, and the decisions also take into account federal tax law.
One thing is certain. Fort Langley-Aldergrove MLA Rich Coleman, the minister responsible for natural gas development, is doing everything in his power to try and get some of the proponents to commit to building LNG plants. Coleman has said, over and over, that negotiations on the plants are challenging and tricky, but he is convinced the plants can be economically viable.
The investment that has been proposed is gargantuan — although it is likely that only a few plants will be built. Nonetheless, Coleman is doing what he can to work for B.C.’s future.
