The Canadian Gas Association said it welcomes the Government of Canada intentions to establish new capital cost allowance rates to help support investment in liquefied natural gas facilities in Canada.
The Federal Government said that it intends to establish a capital cost allowance rate of 30 per cent for equipment used in natural gas liquefaction and 10 per cent for buildings at a facility that liquefies natural gas. This investment support will be available for capital assets acquired after February 19, 2015, and before 2025.
“The Government of Canada announcement will support industrial development, driving environmental performance, and reducing energy costs for Canadian homes, businesses, and institutions,” said Timothy M. Egan, President and CEO of the Canadian Gas Association .
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Image: Canadian Gas Association