Any major project that goes through First Nations land will definitely face opposition from its people. That's why project managers are careful not to earn the ire of the aborigines.
So imagine the level of success achieved when both urban and rural folk ink the contract and give the project the green light. That's what happened with the bilateral approval of the Pacific Trails Pipeline, a 463-km liquefied natural gas (LNG) pipeline co-owned by multinational gas giant Chevron and Australian petroleum company Woodside.
Moricetown Band was the final major obstacle in the pipeline's approval. Sixteen First Nations groups, whose lands will be traversed by the pipeline, signed the agreement and will receive nearly $6 million over the course of the contract. An immediate payment of nearly $1 million is part of the $6-million care package.
From the city of Prince George in the north of BC, the pipeline's destination will be Kitimat, a municipality in the North Coast of the province. The pipeline can now act as a sort of super highway for LNG to be transported and exported out of a proposed plant in Kitimat. Shipments, however, are expected to commence in 2023.
The blazing LNG industry is largely responsible for the spike in property prices around the area. Prices of detached homes for sale in Fort St. John, B.C., as of October 2014, are playing around $410,200, a 10.1-percent increase from last year. This isn't just the accomplishment of a flourishing LNG market but also of a proposed $7.9-billion dam just southwest of the city.
Experts say rising home prices are generally good if accompanied by a strong demand. LNG Country, figuratively speaking, is meeting those two factors to sustain long-term growth. As more people move into the city to work for the industry, real estate developers must keep the construction pace brisk and constant.
There have been developments in the city since 2012, with the opening of a state-of-the-art rural hospital in summer of that year, and a new fire hall in December of 2013. There are also a number of commercial or mixed-use property developments that would surely stir life into the construction sector and influence demand on the realty side.
Owners of existing homes looking to sell their property can also contribute to the active property market. A REALTOR® like Scott Sauer can help assess the value of Fort St. John homes for sale based on real-time data and rates. With the right price, newcomers will have a nice home ready at Fort St. John and home sellers will have enough profit to start anew.
(Source: "Final First Nations group along proposed LNG pipeline signs deal," Globalnews.ca, January 23, 2015)