LNG

May 13 (LNGJ) - A Canadian First Nation native North American tribe at Lake Babine in British Columbia is the latest to sign a benefits agreement with the provincial government for the emerging LNG sector. The Lake Babine Nation has traditional territory along the proposed route for TransCanada's Prince Rupert Gas Transmission natural gas pipeline project. "If the proposed project proceeds, Lake Babine Nation will receive approximately $3.56 million in one-time payments from the Province as milestones are reached," BC explained. The Lake Babine tribe will receive $324,000 when the agreement takes effect, $1.62 million as construction begins, and $1.62M when the pipeline is operating. The Lake Babine Nation is also entitled to a share of $10M a year in ongoing benefits for First Nations along the pipeline route, the government said.