BC, Petronas reach deal on LNG project development agreement – The Globe and Mail
May 20, 2015
The B.C. government will announce plans on Wednesday to sign a project development agreement with the Pacific NorthWest LNG joint venture led by Malaysia’s Petronas.
Both sides agreed in May, 2014, to assign officials to prepare the terms of reference, leading to the deal. The project development agreement is subject to approval later this year from the B.C. legislature.
B.C. Premier Christy Clark will make the announcement at a news conference in Vancouver, an industry source said Tuesday night.
While further details will be disclosed later this year, the project development agreement spells out broad terms for taxes and B.C. LNG rules.
