The BC LNG Sector Remained Active Through 2013: End-Of-Year Update

British Columbia's emerging liquefied natural gas (LNG) sector remained active throughout the second half of 2013. Governments and proponents negotiated agreements and projects advanced through various regulatory processes. Given continued interest in BC's new industry, we prepared the following end-of-year update that summarizes notable LNG sector activity.

Since our mid-year summary:

• An LNG export licence application was filed with the National Energy Board (NEB) for the Woodfibre LNG Project. The Woodfibre LNG Project is located near Squamish and has a proposed capacity of about 2.1 million tonnes per year.
• The BC government approved $115.8 million in royalty credits under the province's 2013 Royalty Credit Program in order to encourage the construction of new resource roads and pipelines and advance the development of the LNG industry. Preliminary estimates suggest that the 2013 royalty credits will generate $445 million in government revenue over a