On June 20, 2015, the federal Department of Transportation published the proposed Port of Prince Rupert Liquefied Natural Gas Facilities Regulations (Regulations) with respect to proposed liquefied natural gas (LNG) facilities to be built at Prince Rupert, British Columbia. The Regulations are issued under federal authority by virtue of the Canada Marine Act, which regulates Canadian ports. At present, there are four proposals for LNG facilities to be located at Prince Rupert, two are to be located wholly on federal port lands and two are to be located largely on provincial lands, with small portions on federal port lands.… Continue Reading
In a previous blog entry, we provided comprehensive commentary on the then-recently tabled Liquefied Natural Gas Income Tax Act (the “Act”), the foundational piece of legislation in the B.C. Government’s proposed liquefied natural gas (“LNG”) taxation regime.
On November 27, 2014, the Act received royal assent and the Province has since been in the process of crafting associated regulations and amendments. The first of these, Bill 26 – Liquefied Natural Gas Income Tax Amendment Act, 2015 (the “Proposed Amendment”), was released on March 25, 2015, and proposes a number of amendments to the … Continue Reading
The federal government announced on February 19, 2015 that accelerated capital cost allowance (CCA) treatment would apply to certain property used in liquefaction facilities for the domestic and export liquefied natural gas (LNG) markets and for LNG storage. The new measure signals the federal government’s support for Canada’s emerging LNG industry, and follows a concerted lobbying effort by LNG project proponents and industry associations.… Continue Reading