The Province of British Columbia and Pacific NorthWest LNG have signed a memorandum of understanding. According to a release from the Province the agreement sets out the steps leading toward ratification of a project development agreement between the government and the company.
Premier Christy Clark said, “Today reflects the beginning of the company’s final decision path
toward an investment decision. Today’s agreement is the product of tremendous effort right across government and among many partners to recognize a generational opportunity and ensure that we are ready to seize it, for the benefit of British Columbians today and those who are to come.”
Pacific NorthWest LNG plans to build an LNG facility on Lelu Island, located in the District of Port Edward on land administered by the Prince Rupert Port Authority.
The Province claims between 2015 and 2020 economic growth in Asia and the switch to clean fuel will double the demand for liquefied natural gas, and B.C. has a supply of 2,933 trillion cubic feet. They say that amount can support domestic and export markets for the next 150 years.