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BC throne speech discusses LNG opportunity

LNG Industry,

British Columbia’s Lieutenant Governor, Judith Guichon, opened the second session of the 40th Parliament with a speech from the throne. The speech focused on controlling spending and job creation by opening new markets for investment – including LNG - and leveraging the state’s strengths from natural resources to technology.

"The way to create jobs is to grow our economy, elevating British Columbians from all walks of life," said Premier Christy Clark. "In this session we will continue to deliver on our plan for a strong economy and a secure tomorrow."

This session, the government will introduce the second consecutive balanced budget followed by action on key priorities including an overall framework for LNG that includes taxation, environmental actions, and First Nations benefits.

"Governments in the Western world face a stark choice: finding new ways to grow their economies, or managing decline. British Columbians chose a strong economy, and we will deliver," Clark added.

Speech extracts:

Leverage Our Strengths: LNG
“Across the Pacific, a remarkable transformation is taking place. By 2020, the middle class in Asian countries is forecasted to triple to 1.7 billion people.

“This transformation has already started to create a corresponding demand for energy – cleaner, safer energy. By 2030, LNG demand is projected to increase two and a half times.

“LNG is a once-in-a-lifetime opportunity to create 100 000 new jobs throughout BC, and a Prosperity Fund to eliminate the provincial debt.

“It’s also the greatest single step we can take to fight climate change.

“The People’s Republic of China accounts for fully one quarter of the world’s carbon emissions. This is chiefly because they rely on coal to generate power. By switching even a small percentage of that to the world’s cleanest-burning non-renewable resource, China could reduce emissions by over 90 megatons per year.

“That is more than our total provincial emissions in a year and a half.

“Natural gas is the world’s cleanest non-renewable fuel, which would make an appreciable difference in the global fight to cut emissions.

“And this government is taking steps to realize this opportunity.

“Agreements have been reached for the two parcels at Grassy Point, with Aurora LNG and Woodside, respectively.

“This government is taking steps toward establishing the LNG Buy BC initiative to match BC businesses, small and large, with LNG investors and projects.

“This year, this government will lay out an overall framework for LNG that includes taxation, environmental actions to help make BC’s LNG industry the cleanest in the world, and First Nations benefits.”

Edited from various sources by Katie Woodward

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