Highbank Resources applauded B.C. Government’s reduced LNG Levy that halved the tax of 7% proposed earlier in the year.
Company’s President/CEO Victor Bryant said, “The Highbank board of directors whole-heartedly applaud B.C. Premier Christy Clark and her Ministers on their revised B.C. LNG export levy.”
This revised tax structure should most assuredly entice the energy behemoths of the recently formed B.C. LNG Developers Alliance, comprising Malaysian state controlled Petronas-led Pacific Northwest LNG; Shell Canada Energy-led LNG Canada; BG Group PLC’s Prince Rupert LNG; and the Kitimat LNG project, which is co-owned with the Canadian units of Chevron.
One of the Alliance members (Royal Dutch Shell) told Bloomberg, “We are pleased to have certainty on a final B.C. LNG tax framework.”
LNG Canada, the Kitimat-based LNG project led by Shell, issued a further statement that appears supportive of the government tax structure unveiled Tuesday.
“We are of the view that the BC LNG tax framework announced by the government provides balance and consideration of the global challenges in the LNG marketplace faced by the LNG sector in B.C.,” the company said in a statement.
It is considered as an important input to the company’s decision-making process, according to the statement.
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Press Release; Image: bc.gov.ca