LNG Tax Statement

October 21, 2014

FOR IMMEDIATE RELEASE
BC LNG ALLIANCE STATEMENT

Vancouver, BC – David Keane, President of the BC LNG Alliance, today made the following statements in response to the provincial government’s proposed LNG Tax legislation.

“LNG proponents appreciate the government revisiting its original tax structure. We believe there must be a fair return for British Columbians for the sale of their natural resources, while ensuring a stable fiscal policy so our industry is able to compete globally now and over the long term.”

“This tax, along with other taxes we will pay have to strike the right balance that enables British Columbians to get fair value for their resource, but also recognize the huge technical and financial challenges of very large and complex projects with significant risk.”

“BC is a high cost environment; for these projects to be economically viable, the LNG tax must be considered in conjunction with the overall fiscal framework, which includes other taxes, availability of skilled labor resources, constructing pipelines across two mountain ranges, global LNG market trends, and other fiscal and regulatory issues.”

“To understand how the tax impacts individual projects, journalists are encouraged to contact individual proponents.”

The role of the Alliance is to foster the growth of a safe, environmentally and socially responsible LNG industry in BC that is globally competitive. Members of the Alliance include: Kitimat LNG (Chevron and Apache Canada); LNG Canada (Shell Canada Energy, PetroChina, KOGAS and Mitsubishi Corporation); Pacific Northwest LNG (PETRONAS, JAPEX, Indian Oil Corporation, Sinopec and PetroleumBRUNEI); Prince Rupert LNG (BG CANADA); Triton LNG (AltaGas and Idemitsu Canada) and Woodfibre LNG (Pacific Oil and Gas).

Questions regarding upstream operations should be addressed to the Canadian Association of Petroleum Producers.

Markus Ermisch
(o) 403-776-1401
(c) 403-462-0361
markus.ermisch@capp.ca

Jas Johal778-370-1392

Email: jas.johal@bclnga.ca

Website: www.bclnga.ca

Twitter: @bclnga