Op-Ed Explains Canaport LNG Property Tax Agreement
Posted on May 6, 2008 in Canada & Mexico, Regas Terminals & Capacity | Comments Off on Op-Ed Explains Canaport LNG Property Tax Agreement
An op-ed in today’s Telegraph-Journal by Daniel Goodwin of Irving Oil, one of the developers of the Canaport LNG import terminal under construction in St. John, N.B., explains the property tax agreement between Irving Oil and the City of Saint John. According to Goodwin, Irving Oil is responsible for paying all of the Canaport property taxes despite being only a 25% partner in the project, and Irving Oil “had to know that the property tax burden would not make the project uneconomic for our company.”