NEB approves 25-year export licence to LNG Canada Development Inc.

abarrelfull wrote on 05 Feb 2013 17:33
Tags: canada lng n-america shell

Latest News

• Want a weekly review of refining news?

• This Week in Refining
• RSS Feed

Today, the National Energy Board (NEB or the Board) approved an application by LNG Canada Development Inc. (LNG Canada) for a licence to export liquefied natural gas (LNG) from a proposed terminal near Kitimat, British Columbia.

The export licence will authorize LNG Canada to export 670 million tonnes of LNG (approximately equivalent to 32.95 trillion cubic feet of natural gas) over a 25-year period. The maximum annual quantity allowed for export will be 24 million tonnes of LNG (approximately equivalent to 1.18 trillion cubic feet of natural gas). The daily equivalent of these exports is 3.23 billion cubic feet per day.

In approving the application, the Board satisfied itself that the quantity of gas to be exported does not exceed the surplus remaining after due allowance has been made for the reasonably foreseeable requirements for use in Canada, having regard to the trends in the discovery of gas in Canada.

The National Energy Board is an independent federal regulator of several parts of Canada's energy industry. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest.

• NEB approves 25-year export licence to LNG Canada Development Inc.

---