There are numerous benefits from the potential development of Discovery LNG to the surrounding community, the Province of B.C., and Canada at large. For information on why Campbell River is a highly suitable location for a LNG export facility and marine terminal, please click here.
Rockyview’s potential Project is expected to generate and support diverse economic development during its construction and operation. Economic benefits, direct and indirect, would include the creation of hundreds of jobs in Campbell River and surrounding areas and an increase business spending throughout the construction and operation phases. Indirect economic impacts would be created through the provision of goods and services to the LNG facility and the subsequent increase in employment and business activity necessary to produce these goods and services.
In addition to jobs directly and indirectly related to Discovery LNG in Campbell River, numerous other jobs would be supported through Discovery LNG, such as the extraction of natural gas at Rockyview sites in the Horn River Basin, which would also result in an increase in royalties to the provincial government.
Tax revenue would be generated during construction, through payroll taxes and through business equipment taxes. Sales and employee taxes would also be generated during the operational phases of the Project.
B.C. – Leading in LNG
With its extensive natural gas deposits, excellent geographic location and government support, B.C. is positioned as a forerunner in LNG development and export. B.C. is Canada’s second largest natural gas-producing province (and Canada is the third largest producer of natural gas) and recent discoveries of shale gas in northeastern B.C. provide even greater reserves of natural gas. In 2009/10, the natural gas sector generated $1.35 billion in revenue for the province, accounting for over 50% of B.C.’s total resource revenue.
B.C. is well positioned to benefit from exporting natural gas to lucrative Asian markets. Key factors include B.C.’s proximity to Asia, a stable investment and regulatory jurisdiction, large natural gas reserves, high environmental standards, and positive relationships with First Nations and other Aboriginal peoples.
LNG export is also strongly supported by the B.C. government. As part of B.C.’s recently released Natural Gas Strategy, and accompanying Liquefied Natural Gas Strategy, B.C. is committing significant resources to ensure the Province:
- Remains competitive in a global LNG industry
- Maintains leadership on climate change and clean energy
- Is able to keep energy rates affordable