National Energy Board Grants Export Licence to Bear Head LNG
Perth, Aug 17, 2015 AEST (ABN Newswire) - The Directors of Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) are pleased to advise that Canada's National Energy Board (NEB) has granted Bear Head LNG Corporation and Bear Head LNG (USA), LLC (collectively, Bear Head LNG) authorization to export liquefied natural gas (LNG) from Bear Head LNG's project site on the Strait of Canso in Nova Scotia.
The NEB licencing decision approves Bear Head LNG's application for authority to export up to 8 million tonnes per annum (mtpa) of LNG from Canada starting in 2019 with expanded authority to increase production to 12 mtpa in 2024. The export licence extends for a period of 25 years from the date of first LNG export.
Bear Head was also granted a licence to import 800 million cubic feet per day of natural gas from the U.S., an amount adequate to produce the authorized annual LNG exports. As with all other LNG projects, the NEB's export licence decisions are subject to approval by Canada's Governor in Council.
Bear Head Project Director John Godbold said the favorable NEB decision continues the steady progress being made toward complete regulatory clearance for the project. In July 2015, the U.S. Department of Energy granted Bear Head LNG export authorization to free trade agreement countries. In May 2015, Bear Head received the last of 10 initial Canadian federal, provincial and local regulatory approvals needed to construct the proposed facility.
About Bear Head LNG Corporation
Bear Head LNG is wholly owned by Liquefied Natural Gas Limited. Bear Head LNG proposes to develop an 8 mtpa liquefied natural gas export facility on the Strait of Canso, Nova Scotia, Canada.
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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