The Government of Canada is investing $275 million in LNG Canada’s major LNG project in Kitimat, British Columbia. The $40 billion project represents the largest single private sector investment in the history of the country.
The new was confirmed on 24 June by the Bill Morneau, Canada’s Minister of Finance, on behalf of Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development.
Minister Morneau announced that the federal investment will include $220 million to help fund highly energy-efficient gas turbines for LNG Canada, minimising both greenhouse gas emissions and fuel use. The additional $55 million will be for the replacement of the Haisla Bridge in the District of Kitimat to support and service existing and increased traffic in the region.
These investments will help support the overall advancement of the LNG Canada facility, which will ultimately create over 10 000 jobs, as well as lead to billions of dollars in direct government revenues and hundreds of millions of dollars in construction contracts for Indigenous businesses.
“The Government of Canada is proud to support this historic $40 billion project that will get our resources to new markets, diversify our trade, grow our economy and create middle-class jobs for Canadians, including First Nations and other communities in northern British Columbia. It’s a vote of confidence in Canada’s resource industry and is good news for Canadians right across the country.” – Bill Morneau, Minister of Finance.
“Building on a 60% increase in foreign direct investment last year, our government has created the economic conditions to attract the largest private sector investment in Canadian history. LNG Canada’s facility will help bring a cleaner Canadian energy source to replace coal in some of the world’s fastest growing economies while creating thousands of good jobs in northern British Columbia, in First Nations communities and across Canada.” – Navdeep Bains, Minister of Innovation, Science and Economic Development.
“The Government of Canada has enabled LNG Canada’s development of the lowest carbon content LNG for export in the world today. This secures thousands of high-paying jobs and billions in government revenues and demonstrates Canada is a place for major private sector investments. The Haisla Bridge is vital infrastructure linking the community of Kitimat to the sites and ports that will export LNG and aluminium to Asia. LNG Canada is pleased to have the Government of Canada step forward to support the community and the development of Canadian natural resource exports.” – Andy Calitz, CEO, LNG Canada.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26062019/government-of-canada-confirms-support-for-lng-canada-project/