(The following press release from the Province of British Columbia, Canada, was received by e-mail and was reformatted. The sender verified the statement.) NEWS RELEASE For Immediate Release 2013PREM0023-000335 Feb. 25, 2013 Office of the Premier Ministry of Energy, Mines and Natural Gas $32 million gives First Nations a stake in LNG future VANCOUVER - Premier Christy Clark reaffirmed government's commitment with First Nations to share the benefits of liquefied natural gas development by amending the economic partnership agreement for the proposed Pacific Trails Pipeline project (PTP). "BC has a once-in-a-lifetime opportunity by exporting natural gas to Asia, and we want to make sure First Nations are part of this industry's future," said Clark. "This announcement creates a valuable model for industry proponents who seek to work in partnership with First Nations while ensuring their communities benefit from the growth of our natural gas sector." The provincial government is providing $32 million to the First Nations Limited Partnership to facilitate a non-equity investment in the pipeline. The partnership is comprised of 15 northern First Nations along the route of the pipeline and will generate revenues for each of the First Nations' communities. "By working closely with First Nations and industry, we are creating jobs and economic development for remote communities," said Minister of Energy, Mines and Natural Gas Rich Coleman. "This updated agreement is an example of industry's collaboration with First Nations throughout our province to secure a prosperous future for B.C." The Pacific Trails Pipeline is a 463-kilometre pipeline that will carry natural gas from Summit Lake, 55 kilometres north of Prince George, to the proposed Kitimat LNG facility on B.C.'s north coast. The Pacific Trails Pipeline is an important component of the Kitimat LNG project, proposed by Chevron and Apache. The proposed pipeline will create hundreds of jobs during its three-year construction period. The premier made the announcement at the first-ever international LNG conference - Fuelling the Future: Global Opportunities for LNG in BC. This two-day conference is bringing together industry, community stakeholders, First Nations, government and more to help seize the opportunity of building a global competitive LNG industry. Earlier this month, the provincial government announced its plan to create benefits for British Columbians through the revenues generated by the LNG industry known as the Prosperity Fund, so all British Columbians can share the benefits of a resource that belongs to them. Learn More: Fuelling the Future: Global Opportunities for LNG in BC: www.LNGinBC.ca LNG Strategy - One Year Update: http://www.gov.bc.ca/com/attachments/LNGreport_update2013_web130207.pdf Prosperity Fund: http://www2.news.gov.bc.ca/news_releases_2009-2013/2013PREM0018-000231.htm Media Contact: Mike Morton Press Secretary Office of the Premier 250 588-8380 Jake Jacobs Media Relations Ministry of Energy, Mines and Natural Gas 250 952-0628 250 213-6934 (cell) Connect with the Province of B.C. at: www.gov.bc.ca/connect (kgt)NY
B.C. TO PROVIDE C$32M TO FIRST NATIONS LIMITED PARTNERSHIP
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