B.C.'s LNG strategy threatened by cumbersome regulations and reviews: Fraser Institute

B.C.'s plans to create jobs and investment by exporting liquefied natural gas (LNG) to Asia are threatened by the slow, inefficient regulatory processes and reviews ...

B.C.'s plans to create jobs and investment by exporting liquefied natural gas (LNG) to Asia are threatened by the slow, inefficient regulatory processes and reviews that should be streamlined, according to a new Fraser Institute report.

Laying the Groundwork for BC LNG Exports to Asia discusses the bureaucratic obstacles that the province faces as far as getting the construction of natural gas pipelines, liquefaction facilities and marine terminals underway in a timely manner.

"This whole process is very lucrative for lawyers and consultants but it's expensive for the applicants, and inefficient," Gerry Angevine, senior economist, global resource centre at the Fraser Institute, told Business in Vancouver.

He added that the slow process could lead to B.C. and Canada missing out on a significant share of the market.

"This process could be streamlined by having what I call a generic hearing that would look at issues in common to all the applications that are likely to come along in the next 10 years or so."

Some of those issues, according to Angevine, include:

  • whether B.C. has sufficient gas to even consider exporting;
  • what the implications would be for the price of gas in B.C. and for B.C. consumers; and
  • environmental aspects.

"Get those common issues out of the way, then the hearings that are necessary with regard to each application for each facility can be done in a much more business-like manner," he said.

The report also discusses involving provincial and federal governments, First Nations organizations and industry representatives working together and approving transportation corridors to be used in the development of infrastructure.

ecrawford@biv.com

@EmmaCrawfordBIV

comments powered by Disqus

Also Read

More From Mining & Energy

Mining giant Rio Tinto (LON, ASX:RIO), the parent company for Vancouver’s Turquoise Hill (TSX:TRQ), is set to take...

Read Article

Goldcorp Inc. (TSX:G) reported a third-quarter loss of US$44 million

Read Article

British energy company BG Group will delay a plan to build an LNG-export terminal near Prince Rupert   

Read Article

The provincial government’s proposed tax plan for LNG has been announced, and in preparation for...

Read Article

Teck Resources Ltd. reported adjusted profit of $159 million for the three months ended September 30, 2014 

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×