Liquefied Natural Gas Limited’s unit, Bear Head LNG, received Governor in Council approval for its licence to import natural gas from the United States and export LNG from the plant to be located on the Strait of Canso in Richmond County, Nova Scotia.
Bear head LNG was granted a licence to import and export natural gas in August last year, however that licence was subject to the approval of the Governor in Council, LNg Limited’s statement reads.
Commenting on the approval on Thursday, Greg Vesey, managing director and CEO of LNG Limited and president of Bear Head LNG said the approval positions the Bear Head LNG to become a major LNG supplier.
According to the licence, Bear Head LNG can import up to 14.2 billion cubic metres of natural gas per annum, which would be sufficient to export up to 12 mtpa of LNG from Canada, both licences are for a period of 25 years.
The project has already secured approval from the United States Department of Energy to export US-sourced natural gas to countries that have and those that do not have a free-trade agreement with the US.