Government is congratulating Liquefied Natural Gas Ltd. (LNGL) on its proposal to develop a liquefied natural gas (LNG) export facility at Bear Head, just outside Port Hawkesbury.
The Australia-based company announced an agreement to acquire 100 per cent of Bear Head LNG Corp.
from Anadarko Petroleum. The sale is expected to close before the end of August. LNGL will make the site an LNG export facility, with possible future expansion, based on the market.
As part of the project, the company has developed a gas supply and transportation plan, and secured interest from several parties to pay tolls to use the facility in Bear Head.
Energy Minister Andrew Younger met with LNGL representatives and is satisfied the company wants to work with the community to build a sustainable project.
“This is a great step toward making Nova Scotia an LNG export destination and represents a tremendous opportunity for rural economic development,” said Mr. Younger. “LNGL chose to set up this business in Nova Scotia over a number of other viable markets. They chose Nova Scotia because of our proximity to the world’s major markets, our established regulatory regime, and the support displayed by Nova Scotians for these types of projects.”
Anadarko Petroleum developed the Bear Head site as a regasification plant.
“This project is off to a solid start with the partial development at Bear Head, which means reduced risk for LNGL,” said Mr. Younger. “LNGL also has an experienced executive team to drive the project’s development, further increasing the export terminal’s likeliness of success.”
The next step is to determine what environmental approvals are necessary.
LNGL is an established export terminal developer with extensive experience in global LNG markets. It has major projects underway in Louisiana and Gladstone, Australia.
Last week, H-Energy of India announced it had memorandums of understanding with customers for 50 per cent of the output of its planned $3-billion LNG plant and export terminal in Melford, Guysborough Co., and Pieridae Energy has plans to develop an LNG export terminal in Goldboro, Guysborough Co.
FOR BROADCAST:
Government is congratulating Liquefied Natural Gas Ltd.
(LNGL) on its proposal to develop a liquefied natural gas (LNG)
export facility at Bear Head near Port Hawkesbury.
The Australia-based company announced an agreement to
acquire 100 per cent of Bear Head LNG Corp. from
Anadarko Petroleum. LNGL has already developed a gas supply and
transportation plan, and secured interest from several
parties to enter into a tolling agreement to pay tolls to use
the facility in Bear Head.
Energy Minister Andrew Younger says this is a great step
toward making Nova Scotia an LNG export destination and
represents a tremendous opportunity for rural economic
development. He says LNGL chose Nova Scotia for this venture
based on the province’s proximity to major international markets
and the established regulatory regime.
Source: Release