[dropcap]The[/dropcap] Coastal GasLink LNG pipeline project has always been one of the most anticipated LNG project for a long time. Although there has been numerous challenges and setbacks, the future now looks very bright for the larger British Columbia. This is after two more First Nations: West Moberly and Nadleh Whut’en all in north-central have given their approval for the project to go on.
This comes in a major boost to the industry as major benefits are anticipated in many LNG regions such as the Dawson Creek area in B.C. TransCanada Corporation which is one of the companies that had expressed interest in shipping LNG by pipeline has welcomed the approval by the two First Nations saying that this will serve as a positive encouragement to other First Nations who are yet to sign the deal to approve the building of the proposed 670km gas pipeline. The total number of communities which have approved the project now stands at 11 and the company is optimistic that progress is being made in negotiations with the other First Nations and a positive outcome is expected soon.
TransCanada Corporation views this project as key to its capital growth plan. The company is setting sights a major growth plan that incorporates more than $13 billion in a number of proposed LNG pipeline projects. The Coastal GasLink pipeline project is set to be among the most beneficial project to the communities in B.C. TransCanada Corporation estimates that about 32% of the total project cost would end up being spent locally. This will translate to a huge economic benefit in the area as the estimated cost of the project is about $4.8 billion, [note]Coastal GasLink Pipeline Project Overview[/note].and some of the anticipated benefits include:
- About 2000 people will get jobs- The LNG pipeline will require labour during construction. Many people are set to benefit through employment from this project. The employment opportunities created will also cut across the board from highly skilled and expert professionals to unskilled labourers. This is a huge opportunity for the people in B.C and anyone looking to explore the benefits of the project.
- Property tax payment- Property tax payments for this projects is expected to be in the range of over $20 million annually. This is huge revenue for the B.C region and benefits of this money is expected to be a lot.
- Business opportunities- The Coastal GasLink project is expected to be built largely by locally available material. This therefore gives a chance to the local business community to reap the benefits of the project by offering services such as hardware components, accommodation, food and entertainment.
- Other local investments- TransCanada corporation has always been supporting the local communities on some of the key local projects that focus of environment, health and education. The energy company is set to further support the local communities in B.C with some of the local initiatives.
The Coastal GasLink pipeline will be built from Groundbirch which is on the west of Dawson Creek to the proposed LNG export facility near Kitimat on the central coast.