by Greg Quinn
Canada will extend natural gas export licenses to 40 years while cutting taxes for small businesses and the manufacturing industry in a budget designed to boost flagging business investment.
The extension of natural gas export licenses from 25 years comes amid a global race for liquefied natural gas projects. The extension is in addition to recently announced measures to allow faster write-offs of LNG equipment, according to budget documents presented Tuesday in Ottawa by Finance Minister Joe Oliver.
There are 19 proposals to export chilled gas by tanker from Canada’s Pacific Coast. Final decisions on some of the British Columbia projects, including one involving U.K.’s BG Group Plc, have been delayed as energy prices slump. In a report this month, Moody’s Investors Service said Canadian LNG terminals are unlikely to move ahead amid lower oil prices.
