British Columbia Cuts LNG Tax to Encourage Development

SUGAR LAND--March 26, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)--Last week, British Columbia Premier John Hogan announced that the province would eliminate a tax of 3.5% to 5% of net income on liquefied natural gas (LNG) projects to encourage development in this sector. Over the years, several LNG projects have been proposed in the province, which is in a prime position on the Pacific Ocean to reach lucrative Asian markets. However, after oil prices declined, resulting in lower oil-linked gas prices, several projects have remained in a state of limbo, and none has actually begun construction. Industrial Info is tracking more than $98 billion in proposed LNG projects in British Columbia.

Within this article: Details of planned LNG projects in British Columbia

Companies featured: Royal Dutch Shell plc (NYSE:RDS-A), Stantec Incorporated (NYSE:STN), Fluor Corporation (NYSE:FLR)