(The following press release from the Province of British Columbia,
Canada, was received by e-mail and was reformatted. The sender verified the
For Immediate Release
Feb. 25, 2013
Office of the Premier
Encouraging further development and supporting LNG through royalty program
VANCOUVER - To stimulate job creation and infrastructure investments, Premier
Christy Clark today announced the Province of British Columbia is providing up
to $120 million in royalty credits to industry.
"We have a real opportunity to create significant wealth and jobs for British
Columbians through continued support to our natural gas sector," said Premier
Clark. "This program keeps our natural gas sector competitive by encouraging
investments in new roads and pipelines, which will help B.C. transition into a
global supplier of cleaner energy and a world leader in liquefied natural gas."
The details of 2013 Infrastructure Royalty Credit Program (IRCP) were revealed
to an international audience at the Fuelling the Future: Global opportunities
for LNG in BC conference.
The IRCP was created in 2004 and is unique in North America. It is designed to
encourage new capital investment and project development in roads and
Since its inception, it has led to the development of 82 new road-based
and 133 new pipeline projects. This has accounted for more than $1.7 billion in
The program provides industry with deductions that can be used to recover a
portion of royalties owed to government - after a project is complete and
generating revenue. This is the 12th instalment this program has made available
The IRCP will help meet the needs of an emerging liquefied natural gas industry
- a new industry for B.C. that will increase the value of B.C.'s gas and bring
revenues to Province. By supporting growth and the prospects in natural gas,
IRCP will help expedite access to new and underdeveloped resource areas. Access
to these areas is key to B.C's LNG industry.
The Ministry of Energy, Mines and Natural Gas now will accept applications for
the program from companies that want to invest in new roads and pipelines. To
participate, successful applicants will be required to fund the entire cost of
Once completed, they are eligible to recover up to 50 per cent of an approved
project's costs through credits that reduce the natural resource royalties they
must remit to government.
The projects that offer the highest economic benefits to British Columbia will
be approved. Applications will be accepted until April 18, 2013, at 2 p.m.
Pacific daylight time (PDT).
The Request for Applications information can be found at:
The Fuelling the Future: Global Opportunities for LNG in BC conference is
currently underway in Vancouver. Speakers from around the globe are sharing
their knowledge and expertise about the diversification of the natural gas
industry. Multiple panel discussions, including topics ranging from skills
training and the latest market developments, are a focus of the event.
* Details about the Infrastructure Royalty Credit Program, including the
for Applications and information about previous instalments of the program, can
be found at:
* For more information on B.C.'s royalties and royalty programs:
* British Columbia's Natural Gas Strategy: Fuelling B.C.'s Economy for the Next
Decade and Beyond, as well as the Province's LNG Strategy: A Strategy for
Newest Industry, can be found and downloaded at:
* The recently released LNG One Year Update report can be found at:
* Further details about Fuelling the Future: Global Opportunities for LNG in BC
can be found at: www.LNGinBC.ca
Office of the Premier
Ministry of Energy, Mines and Natural Gas
Connect with the Province of B.C. at: www.gov.bc.ca/connect
Press spacebar to pause and continue. Press esc to stop.