BC Business
Premier Christy Clark visits the Petronas LNG complex in MalaysiaPremier Christy Clark visits the Petronas LNG complex in Malaysia
Sweet deal for LNG in the pipeline How committed is the B.C. government to LNG development? Well, it is holding a rare summer session to debate its Liquefied Natural Gas Project Agreements Act, which would allow LNG producers to claim compensation of $25 million a year or more if future governments change the: LNG income tax; natural gas tax credit; carbon tax (specific to liquefying natural gas at an LNG facility); or key features of greenhouse gas emissions regulatory scheme at an LNG facility.
“Three principles underpin these agreements: to give business certainty and keep British Columbia competitive; to ensure British Columbians see the benefits of the resource they own; and to ensure we build the cleanest LNG facilities in the world,” said Premier Christy Clark in a release.
The legislation would enable a proposed project agreement between the province and Pacific NorthWest LNG, a consortium led by Malaysian-based Petronas, which has proposed an LNG and export facility on Lelu Island near Prince Rupert. The Lax Kw’alaams Band rejected a $1-billion deal with Pacific NorthWest LNG to build an LNG and export facility on Lelu Island near Prince Rupert, and the project has yet to receive federal environmental approval. (via CBC)
Deal, no deal Nanaimo will not be getting a 21-storey luxury hotel next to the Vancouver Island Convention Centre as planned. In 2013, China-based SSS Manhao International paid $565,000 for 0.42 acres on which to build the Convention Centre Hotel, containing 240 suites and 13 commercial units. The city retained the option to repurchase the land if Manhao did not construct the hotel’s foundation by May 2015. When Manhao requested a year’s extention, the city offered it six months on condition the company committed $100,000 towards improvements to Piper Park and relinquished right of first negotiation for the neighbouring convention centre. Manhao decided to pass.
The cat’s meow Vancouver’s first cat café plans to open this fall in the International Village Mall on West Pender. Part foster home for rescue cats and part cafe/gift shop for Vancouver cat lovers, Catfe will offer cats a safe space where they can roam freely instead of being kept in a cage and socialize with people. If they’re feeling antisocial, they can retreat to a separate cats-only back room. There will also be a separate room for showcasing adoptable cats from Vancouver Orphan Kitten Rescue.