Surprisingly enough, the BC government is being pretty up-front about how badly things are looking for natural gas. The once highly-touted natural-gas royalties from new projects weren’t included in the BC Budget’s revenue:
We are, however, prudent in our forecasts, and though we have seen important and substantive progress in the development of an LNG industry in B.C., we have not included LNG projects in our revenue projections at this time, pending the announcement of a final investment decision.
And what a difference it makes in revenues from the 2015 budget:
Natural Gas Royalties
Budget 2015: million dollars
Budget 2016: million dollars
Difference: million dollars
Well, at least they hope it will pick up again in the next couple of years.