Home » Posts tagged 'prince rupert'
Tag Archives: prince rupert
Petronas Hoping To Buy First Nations Tribes’ Support For $1 Billion
Petronas Hoping To Buy First Nations Tribes’ Support For $1 Billion
Petronas is willing to pony up nearly $1 billion to secure the support of First Nations tribes in western Canada for its natural gas export project. The Malaysian state-owned oil company is offering C$1.15 billion (USD$950 million) to the Lax Kw’alaams tribe in order to build an LNG export facility at the Prince Rupert port.
The offer would consist of annual payments over 40 years. For example, Petronas would pay over $12 million in the first year, with payments rising by 1 to 5 percent annually (depending on production), culminating in a $50 million payment in the 40th year. Also, tribe members would have a sort of preferred status for open jobs at the Petronas’ Pacific Northwest LNG facility. The offeramounts to about $320,000 per person. The Lax Kw’alaams tribe will vote on the offer in May.
Related: Is This The Top For Oil Prices For Now?
The tribes argue the price is hardly exorbitant. When one considers it will be spread over 40 years and the project will result in large land use impacts on local communities, the $1 billion is a fair price. “This will be a real game-changer for many First Nations in terms of how they can build their future,” John Rustad, the Aboriginal Relations and Reconciliation Minister in British Columbia, told the Globe and Mail in an interview on April 30.
Interestingly, it could create a new benchmark for major fossil fuel projects on indigenous lands. For other projects to move forward, affected tribes could use the pending offer for the Lax Kw’alaams as leverage.
The big offer from Petronas is somewhat of an afterthought for the C$36 billion proposal. That steep price tag has forced a rethink within the Malaysian company. In December 2014, Petronas decided to put off a final investment decision, hesitating to commit that much money to an LNG export project during a period in which LNG markets are not doing so well.
…click on the above link to read the rest of the article…
No Wealth, No Justice in $1 Billion LNG Offer to First Nation Band
No Wealth, No Justice in $1 Billion LNG Offer to First Nation Band
Here’s why Lax Kw’alaams still side with the salmon.
Leonardo Boff, a Brazilian theologian and writer known for his work among the poor and the excluded, is credited with coining a phrase that is as true as any you’ll ever hear: ”The opposite of poverty is not wealth — it is justice.”
It is a phrase that has also been attributed to Bryan Stevenson, founder of America’s Equal Justice Initiative and a man Archbishop Desmond Tutu has called, without qualification, ”America’s Nelson Mandela.”
Regardless of the provenance of the expression, it is the potency of the underlying idea that should be freighted into the unseemly scramble to unlock northern British Columbia’s dangerously exaggerated liquefied natural gas (LNG) bonanza, especially now that some coastal First Nations are bellying up to the pipe to get their overdue share of Canada’s resource riches.
To read reports emanating from the mouth of the Skeena River, the energy sector thinks it has finally cracked the nut on how to successfully partner with First Nations people who, inconveniently, stand afore a variety of proposed LNG plants and pipeline deals. These aboriginal people have rights along the planned pipeline routes, and also at tidewater, where Canada is trying to unstopper our oil and gas supplies so the Chinese can drain off our energy sovereignty like so much bilge water.
Industry’s latest poster child is the Lax Kw’alaams Band, whose main village at Port Simpson is situated on the coast north of Prince Rupert, where the waters of the Skeena and the Nass rivers mingle and nurse some of the finest wild salmon populations left on the planet.
…click on the above link to read the rest of the article…
