Close X
Monday, November 11, 2024
ADVT 
National

Energy giant Petronas places dark cloud over B.C.'s LNG dreams

The Canadian Press , 06 Oct, 2014 02:42 PM

    VICTORIA - The liquefied natural gas industry has been sold as a generational opportunity for British Columbia to thrive and wipe out its debt, but now the Liberal government says there's no guaranteed windfall.

    In a speech from the throne on Monday, Lt.-Gov. Judith Guichon said that LNG industry is an opportunity that represents a turning point for B.C., but success requires hard work.

    "If we choose to do nothing, to maintain the status quo, we will have chosen decline," said Guichon.

    The LNG-dominated speech comes just hours after news broke that Malaysian energy giant Petronas threatened to pull out of its multibillion-dollar investment in B.C. unless the deal became more economically viable.

    The Petronas announcement, which the government has been downplaying as a negotiating tactic, comes on the same day the Liberals were preparing to trumpet LNG as the opportunity the province must be willing to seize to achieve economic strength.

    But it comes with a caveat.

    "This is a chance — not a windfall," Guichon said. "It will not be simply given to us, but achieved after a lot of hard work. We have an opportunity to leave our children and their children an inheritance worthy of them."

    Guichon said the government will use this fall's legislative session to move ahead with its framework to ensure the LNG industry benefits the owners of the resource — the people of British Columbia.

    She said coming LNG legislation will include environmental protection regulations that will lead the fight against global warming.

    MORE National ARTICLES

    Surrey Mayor Dianne Watts Seeks Federal Conservative Nomination For South Surrey-White Rock

    Surrey Mayor Dianne Watts Seeks Federal Conservative Nomination For South Surrey-White Rock
    SURREY, B.C. - The outgoing mayor of British Columbia's second-largest city says she hopes to run for the federal Conservative party in the next election.

    Surrey Mayor Dianne Watts Seeks Federal Conservative Nomination For South Surrey-White Rock

    Number of EI beneficiaries relatively unchanged in July: Statistics Canada

    Number of EI beneficiaries relatively unchanged in July: Statistics Canada
    OTTAWA - Statistics Canada says the number of people receiving regular employment insurance benefits in July was relatively unchanged at 499,300.

    Number of EI beneficiaries relatively unchanged in July: Statistics Canada

    B.C. Studies Bridge Option Between Gabriola Island And Vancouver Island

    B.C. Studies Bridge Option Between Gabriola Island And Vancouver Island
    VICTORIA - The B.C. government will study the idea of building a bridge between Gabriola Island and Vancouver Island to replace BC Ferries service.

    B.C. Studies Bridge Option Between Gabriola Island And Vancouver Island

    Cost of satellite ministerial staff soars by 70 per cent during austerity years

    Cost of satellite ministerial staff soars by 70 per cent during austerity years
    OTTAWA - The cost of paying Conservative political staffers working in a network of satellite minister's offices ballooned by 70 per cent during the same years the government was asking departments to tighten their belts.

    Cost of satellite ministerial staff soars by 70 per cent during austerity years

    Rob Ford To Undergo Chemo Over Next Few Days

    Rob Ford To Undergo Chemo Over Next Few Days
    TORONTO - Toronto Mayor Rob Ford will spend the next few days undergoing his first round of chemotherapy to treat a rare and aggressive type of cancer, while his brother is gearing up to launch his campaign for the city's top job.

    Rob Ford To Undergo Chemo Over Next Few Days

    British Columbia Police Watchdog Investigates Shooting Death

    British Columbia Police Watchdog Investigates Shooting Death
    British Columbia's police watchdog is investigating after a man was killed during a police-involved shootout near Valemount.

    British Columbia Police Watchdog Investigates Shooting Death