"The TERMPOL Review is an important regulatory component that furthers Bear Head LNG's goal to be the leader in helping Nova Scotia realize the LNG opportunity, benefiting the province and community," said Greg Vesey, LNGL's Managing Director and Chief Executive Officer. "Bear Head LNG's commitment to safety and continuing engagement with local communities are reflected in TERMPOL's recommendations and observations as they pertain to the marine route, LNG carriers, marine terminal, tugboats and overall project marine activities."
The TERMPOL Review Committee's decision follows a review of the information provided by Bear Head LNG's TERMPOL Report. There are recommendations and observations included in the decision. Bear Head LNG will address and comply with all recommendations throughout the life of the project.
Bear Head LNG is proposing to build an LNG export facility on the naturally deep waters of the Strait of Canso in Point Tupper, Richmond County, Nova Scotia. The proposed facility will comprise an initial development of an 8 million tonne per annum facility, with the capacity and approvals for further expansion.
"Bear Head LNG's focus is to provide overseas markets with access to North America's natural gas resources based on competitive economics," Greg Vesey noted. "Bear Head LNG is uniquely positioned to provide liquefaction services to Western Canadian, Northeast U.S., and offshore Nova Scotia resource owners desiring to sell natural gas to the global LNG market."
Greg Vesey added, "With initial permitting complete, a premium location providing shorter sailing times to many major overseas markets, and through use of LNGL's patented OSMR(R) technology, a mid-scale, scalable, efficient and reliable technology that delivers the LNG industry's lowest full cycle cost, Bear Head LNG has significant competitive advantages over other projects."
A summary of the TERMPOL report is available on Transport Canada's website at: http://www.abnnewswire.net/lnk/22XT4D6Y.
The Document Publication number is TP 15352, which should be used when requesting a copy. It can take up to three business days for Transport Canada to send the electronic copy once a request has been made.
About Bear Head LNG Corporation Inc.
Bear Head LNG is wholly owned by Liquefied Natural Gas Limited. Bear Head LNG proposes to develop a liquefied natural gas export facility on the Strait of Canso, Nova Scotia, Canada. All required initial permits are now in place for Bear Head LNG to construct the LNG export facility. Canada's National Energy Board and the U.S. Department of Energy have granted export licenses for the facility. LNG produced at the facility will be transported by LNG vessels to overseas markets.
About Liquefied Natural Gas Ltd
- 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 mtpa or greater LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), 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(R) LNG liquefaction process, a mid-scale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
Liquefied Natural Gas Ltd