BC LNG pleased by NEB approval to issue long term export licence

Vancouver, BC.  The BC LNG Export Co-Operative (BC LNG) is pleased by today’s National Energy Board approval of a 20 year licence for the export of liquefied natural gas from a proposed terminal at Kitimat, BC.  While there are no destination restrictions under the new licence, it is likely that cargos will be purchased by one of the Co-Op’s Asian members.

BC LNG, which is jointly owned by the Haisla Nation and LNG Partners LLC of Houston, Texas, expects to export its first shipment of LNG early in 2014.

“We are delighted by today’s ruling and look forward to advancing our project to final investment sanction this April and then proceeding with construction of our proposed facilities so as to be operational in the first quarter of 2014”, says Tom Tatham, Managing Director, BC LNG.

Tatham adds that 16 companies currently are members of the Co-Op.   All members, including six BC and Alberta gas producers, will be entitled to submit bids to supply natural gas to be liquefied and/or submit bids to purchase all LNG exported by the Co-Op.

Ellis Ross, Chief Councillor of the Haisla Nation, says BC LNG and today’s approval of its export permit is a “game changer” for the Haisla people.

“Our people have ownership in BC LNG and can look forward to sustained revenue opportunities for 20 years,” says Ross.  “Other industrial projects on our lands pay us rent and provide other benefits, but this is a business opportunity that we vigorously pursued and which now makes us a participant in a growing global industry.”

Construction of BC LNG’s facilities will employ 150-200 people over 18 to 24 months.  Some 30-40 permanent operating jobs at the Douglas Channel site will be created.

With approval for annual export of 1.8 million tonnes of LNG the project will begin with an initial export capacity of about 700,000 tonnes, increasing to 1.8 million tonnes as additional pipeline capacity is completed.

Contact:

Tom Tatham, 604-809-9790
Ellis Ross, 250-639-9361