The B.C. Liberal government is counting on natural gas to fuel the provincial economy and erase the province's debt.
In a pre-election throne speech, Premier Christy Clark announced plans to establish the British Columbia Prosperity Fund.
The fund is expected to raise about $100 billion dollars in revenue from taxes on liquid natural gas exports, natural gas revenues and corporate taxes.
The expected revenue is based on the assumption five LNG terminals will be built to process natural gas for shipping overseas.
In addition to paying down the provinces debt of $56 billion, monies from the fund are earmarked for personal tax reductions, and investments in community infrastructure and services such as health care and education.
"Our LNG industry is quickly developing. Large industry players are investing millions of dollars now to prepare for the opportunity ahead," Energy, Mines and Natural Gas Minister Rich Coleman said in a press release.
"We owe it to British Columbians to create the greatest economic return possible, so we can ensure this opportunity delivers benefits to our citizens for generations."
See the Interior News, Feb. 20 for more on this story