The National Energy Board (NEB) said it has approved an application by LNG Canada Development for a licence to export liquefied natural gas (LNG) from a proposed terminal near Kitimat, British Columbia.
The export licence will authorize LNG Canada, a joint venture comprised of Shell Canada, Korea Gas Corporation (KOGAS), Mitsubishi Corporation and PetroChina, 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 said in a statement.
LNG World News Staff, February 5, 2013; Image: LNG Canada