AltaGas puts Canadian LNG export plans on hold amid tax dispute
By REBECCA PENTY
Bloomberg
AltaGas is putting an investment decision for a C$600 million ($464 million) liquefied natural gas (LNG) export project in Canada on hold as it fights a government tax on imported equipment.
The Calgary-based company is disputing a 25% customs duty on a C$300-million floating LNG facility that the developer wants to import from China, John Lowe, executive vice president of corporate development at AltaGas, said Wednesday at a conference in Vancouver.
The company is optimistic that a federal decision on its appeal, expected in November, will mean the project won’t have to pay any tax, Lowe said.
AltaGas and the other owners of the Douglas Channel LNG project plan to decide whether to proceed this year. Other backers of the project include Idemitsu Kosan Co., Exmar and Electricite de France, known as EDF.
It’s among 20 LNG export proposals along Canada’s Pacific Coast.
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