Bear Head LNG Takes a Major Step Forward in Canadian Process
Perth, Feb 16, 2015 AEST (ABN Newswire) - Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) wishes to announce that its wholly owned subsidiary, Bear Head LNG Corporation (Bear Head LNG) has been advised by the Canadian Environment Assessment Agency that it has reviewed the additional Bear Head LNG Project information and concluded that:
(1) the design for the proposed project will be substantially the same as that which was previously submitted and approved under the Canadian Environmental Assessment Act (CEAA);
(2) since some construction of the LNG facility has already taken place, the Canadian Environmental Assessment Act, 2012 (CEAA 2012) does not apply to the LNG component of the project; and
(3) the proposed installed gas-fired power generation is not considered to trigger CEAA 2012 since the project will not use natural gas to generate electricity.
LNG Managing Director and Chief Executive Officer Maurice Brand said that this was a major step forward in the Bear Head regulatory process timeline in achieving the Company's publicly stated target to obtain all regulatory clearances by mid-2015.
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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