NE BC Market - an interesting read

Sam53473

Inspired Forum Member
Registered
Aug 30, 2015
34
8
8
Vancouver
#3
From what I understand there is currently $10 billion dollars in approved projects however the site C dam is $8 billion of that $10......

Although there are approximately 20 proposed projects for the region, none have received the final go ahead.

Many of the major projects; Shell's LNG export plant ($40 billion), Petronas pipeline ($36 billion), and British gas ($26 billion) are dependant upon either federal gov't approval or final decisions by Shell. Coupled with local aboriginal opposition on the Petronas proposal... There's no guarantee the project would move forward even with a liberal fed gov't green light.

Like I said, I still think it could be a great place to buy... However I would be more comfortable once the shovel is in the ground for the larger projects.
 
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TrevorW

Inspired Forum Member
REIN Member
Jan 1, 2011
97
3
8
45
#5
I wouldn't buy anything in NE BC until the shovels are in the ground, permits in place and agreements with First Nations signed. Even Site C is at risk if BC Hydro can get agreements in place. The long term potential looks good, but we shouldn't be buying on POTENTIAL. That word is further reinforced with LNG Canada delaying their FID until late 2016. I own a lot of real estate in NE BC and have taken a beating on vacancies and decreased rents. We are hold on, but I am a very cautious consumer these days...
 

TrevorW

Inspired Forum Member
REIN Member
Jan 1, 2011
97
3
8
45
#6
Further to Thomas' point, Trudeau has really done a number on a reeling oil and gas industry with his recent emissions policy. A kick in the gut to all of the proposed LNG projects, not to mention cash strapped oil sands developers etc. And this was only the interim policy... I'm all for saving the environment, but this was impeccably poor timing. Clearly the federal Liberals are not talking to the Provincial Liberals....