Today we saw the beginning of the LNG legislation introduced. BILL 2 — 2014 GREENHOUSE GAS INDUSTRIAL REPORTING AND CONTROL ACT This Bill sets a greenhouse gas emissions intensity benchmark of 0.16 carbon dioxide equivalent (CO2e) per tonne of LNG produced. The bill then gives LNG companies “flexibility” to meet that benchmark. If companies cannot meet the benchmark through reducing GHG emissions, then they have the “option to invest in B.C.-based emissions reduction projects (i.e., offsets) at market prices or to contribute to a technology fund at a rate of $25 per tonne of CO2e.” The legislation also creates an “incentive program” that allows LNG facilities that perform below the 0.16 benchmark to receive performance credits, which can then be sold to other facilities. The debate on this BIll could begin this week.
Posted on: Tue, 21 Oct 2014 13:06:43 +0000
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