Good News - Petronas signs MOU

LNGreport_update2013_web130207

Petronas signs MOU (Memorandum of Understanding) for proposed $36-billion LNG project near Prince Rupert.

Government officials say the proposal includes long-term royalty agreements that bring revenue minimums to the province and rate stability to Petronas.

The royalty rates, which are pre-set annually, start at just above six per cent and rise to a maximum of 13.36 per cent, bringing an estimated $7.7 billion in revenue to the province over the 23 years of the proposed project.