VANCOUVER SUN – Experts mull complexity of B.C.’s new LNG tax

By Derrick Penner
Vancouver Sun

Separating provincial profits from other operations could be tricky for global giants, accountant says

For potential liquefied-natural-gas producers in British Columbia, separating which of their profits come from activities in the province — versus their foreign operations — for the purposes of B.C.’s new LNG tax could be the biggest issue raised by the levy that was introduced this week, according to one expert.

Draft legislation tabled by Finance Minister Mike de Jong Tuesday calls for a two-tiered levy from income on gas-liquefaction activity in B.C., separate from regular federal or provincial income taxes.

“For foreign proponents who already have robust LNG activities outside of Canada, this is probably the biggest issue with this legislation,” said Byron Beswick, a partner in the tax practice of the accounting and consulting firm EY.


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THE GLOBE AND MAIL – B.C. promises world-leading emissions targets for LNG industry with new law

JUSTINE HUNTER
Victoria — The Globe and Mail
Published Monday, Oct. 20 2014, 5:11 PM EDT

The British Columbia government has introduced a new law that aims to build a liquefied natural gas industry with what it promises are “world-leading” targets for the lowest greenhouse-gas emissions.

“As the cleanest-burning fossil fuel, natural gas is part of a global climate solution,” Environment Minister Mary Polak said in the legislature as she introduced the Greenhouse Gas Industrial Reporting and Control Act.

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FINANCIAL POST – British Columbia to unveil details of the new LNG tax the industry is waiting for within days

Julie Gordon, Reuters
October 20, 2014 11:07 AM ET

VANCOUVER — British Columbia is set to unveil the details of its long-awaited liquefied natural gas (LNG) tax regime within days, which could sway investment decisions on a handful of proposed export terminals in the Pacific Coast province.

The provincial government, which is banking on the nascent LNG industry to create thousands of new jobs and add billions to government coffers, has promised the new tax legislation will be introduced this week.

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VANCOUVER SUN – Asia-Pacific Report: Japan’s energy crisis – so far the fix is LNG

By Chuck Chiang, Vancouver Sun Columnist
October 14, 2014 11:08 AM

Sweating in Tokyo: Shutting off air conditioning not a solution for power needs of a heavily industrialized country that lost a third of its generating capacity when nuclear turned off.

TOKYO ­— The energy reality in Japan today tends to smack you in the face as soon as you get there – or, more accurately, drip down your face.

Tokyo can be surprisingly warm in late September – highs during my recent visit reached 27 C, with humidity to match.

In most Asian cities, this would warrant a full-scale air-conditioning assault. In Hong Kong, for example, citizens respond with a barrage of air conditioning in offices and malls that creates indoor temperatures close to that of a meat cooler. Outdoors, the heat and humidity induces heavy sweating within minutes; indoors you want to don a sweater.

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ALBERNI VALLEY TIMES – New president for LNG project

Eric Plummer
Alberni Valley Times
October 6, 2014 12:00 AM

Steelhead LNG hires former head of Kitimat development

The company behind a liquefied natural gas development southwest of Port Alberni has added some serious industry experience to its team, with the hiring of the former head of another LNG project planned for Kitimat.

Last week, Steelhead LNG named Victor Ojeda as its new president, an executive responsible for developing LNG Canada’s project in Kitimat before leaving the initiative in July 2013 to work at Shell’s global headquarters.

He speaks English, Spanish and Japanese and brings experience developing floating and landbased LNG terminals in Algeria, Equatorial Guinea, Gabon, Japan, New Zealand and Venezuela to the new energy company.

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LNG INDUSTRY VETERAN VICTOR OJEDA JOINS STEELHEAD LNG AS PRESIDENT

VANCOUVER, BC (October 2, 2014) – Steelhead LNG Corp. is pleased to announce that Victor Ojeda, one of the most respected and experienced executives in the LNG industry and the former head of LNG Canada, has joined the company as President, effective immediately. Tri-lingual (English, Spanish and Japanese), Ojeda will play an integral role in Steelhead LNG’s projects from leadership, relationship and commercial perspectives.

Ojeda has led numerous multi-billion dollar energy project developments across Africa, the Americas and Oceania. His significant LNG experience in British Columbia includes having originated and developed the LNG Canada project in Kitimat. As Managing Director of LNG Canada, he led all aspects of the joint venture between Shell, PetroChina, Kogas and Mitsubishi from inception through to July 2013, at which point he returned to Shell’s global headquarters to head up a series of M&A projects. Continue reading

THE PROVINCE – Issue of LNG tax and emissions controls to be addressed in separate bills, says Mike de Jong

THE CANADIAN PRESS
OCTOBER 2, 2014 8:09 AM

The issue of a liquefied natural gas tax is set to heat up debate during British Columbia’s fall legislative session, but the potentially controversial issue of emissions controls is also part of the package.

Finance Minister Mike de Jong said the Liberal government plans to introduce two separate pieces of legislation focusing on LNG — taxes and emissions reporting.

De Jong said the tax legislation will be tabled within the next two weeks and the emissions reporting bill is due in late October.

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VANCOUVER SUN – Emissions control, LNG tax set to heat up debate at B.C. fall sitting: finance minister

By Dirk Meissner
THE CANADIAN PRESS
October 1, 2014 10:12 AM

VICTORIA – The issue of a liquefied natural gas tax is set to heat up debate during British Columbia’s fall legislative session, but the potentially controversial issue of emissions controls on LNG are also part of the package.

Finance Minister Mike de Jong said the Liberal government plans to introduce two separate pieces of legislation focusing on LNG – covering taxes and emissions reporting.

De Jong said the tax legislation will be tabled within the next two weeks and the emissions reporting bill is due in late October.

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