Energy board approves its first 40-year natural-gas export licence

VANCOUVER - The board that regulates natural-gas exploration and production in Canada has approved its first 40-year export licence to a joint-venture company led by Shell.

See Full Article

The National Energy Board permit will allow LNG Canada to export up to 1,494-billion cubic metres of liquefied natural gas from a terminal that will be located near the B.C. north-coast community of Kitimat.

Until the National Energy Board Act was amended in June 2015, the maximum term length of an export permit was 25 years.

The licence must still be approved by the prime minister and his cabinet.

The announcement comes just days after the B.C. Oil and Gas Commission approved an LNG Canada facility permit, which outlines design, construction and operation requirements.

Shell Canada Energy and affiliates of PetroChina, Korea Gas Corp. and Mitsubishi Corp. are members of LNG Canada, which has not yet made a final investment decision on the project.

"We have determined that the quantity of natural gas proposed to be exported by LNG Canada, for a term of 40 years, is surplus to Canadian needs," says a letter published Thursday by the board.

"The board is satisfied that the natural gas resource base in Canada, as well as North America overall, is large and can accommodate reasonably foreseeable Canadian demand, including the natural gas exports proposed in this application, and a plausible potential increase in demand."

The board says in its letter that the licence will expire Dec. 31, 2022 unless exports have begun.

The project is one of 20 LNG proposals in B.C. Four have received environmental approval from the province, while two have been granted permission to proceed by the Canadian Environmental Assessment Agency.

The B.C. Liberal government has staked its political future on the LNG industry, with promises of 100,000 new jobs and $100 billion in revenue over 30 years.



Advertisements

Latest Economic News

  • Homeland Security chief mulling greatly expanded airplane laptop ban

    Economic CBC News
    Department of Homeland Security Secretary John Kelly said Sunday he's considering banning laptops from the passenger cabins of all international flights to and from the United States. That would dramatically expand a ban announced in March that affects about 50 flights per day from 10 cities, mostly in the Middle East. Source
  • U.S. mulls banning laptops on all flights to and from the country

    Economic CTV News
    WASHINGTON -- Homeland Security Secretary John Kelly said Sunday he's considering banning laptops from the passenger cabins of all international flights to and from the United States. That would dramatically expand a ban announced in March that affects about 50 flights per day from 10 cities, mostly in the Middle East. Source
  • Most Airbnb hosts still not registered in Quebec under year-old regulations

    Economic CTV News
    The majority of Quebecers who list their properties on Airbnb and other home rental websites are not registering with the province, just over a year since it implemented a law regulating them, new data suggests. Source
  • Advocate calls for chicken irradiation in Canada

    Economic CTV News
    A consumer advocate is pushing Ottawa to promote the irradiation of chicken to kill illness-causing bugs and to do a better job of getting buyers on board. Bruce Cran of the Consumers Association of Canada said the federal government has done "an incompetent job" informing Canadians that irradiation is safe and he worries that a lack of action could lead to a deadly outbreak. Source
  • British Airways aims to recover from IT failure

    Economic CTV News
    LONDON -- British Airways said Sunday it was still working to restore its computer systems but hoped to resume flights from London airports, a day after a global IT failure crippled its services. The airline said that it hopes to operate a "near normal schedule" at Gatwick and the "majority of services" from Heathrow on Sunday. Source
  • Canadian teenagers smarter than most about money, OECD finds

    Economic CBC News
    Canadian teenagers are more financially literate than most people their age in other rich countries, but more than one out of eight still fails to meet what the OECD considers a baseline level of proficiency in the topic. Source
  • People with serious food allergies want impostors to stop faking it in restaurants

    Economic CBC News
    Sarah Elliott has had it with people faking food allergies in restaurants. She has life-threatening allergies to eggs, dairy and nuts and fears the impostors are hurting her chances of safely dining out. Source
  • GM's emissions scandal and dangerous avocados: CBC's Marketplace consumer cheat sheet

    Economic CBC News
    If you've been too busy to follow the consumer news this week, here's our cheat sheet. And you can get the Marketplace newsletter in your inbox every week. GM accused of emissions cheating A class-action suit in the U.S. Source
  • CN Rail employees issue strike notice

    Economic CTV News
    MONTREAL -- A union representing employees at CN Rail is threatening job action to back contract demands. The Teamsters union has given the company 72 hour strike notice and could legally walk off the job Tuesday morning. Source
  • British Airways cancels flights amid global computer outage

    Economic CTV News
    LONDON -- British Airways cancelled all flights from London's Heathrow and Gatwick airports Saturday as a global IT failure caused severe disruption for travellers on a busy holiday weekend. The airline said it was suffering a "major IT systems failure" around the world. Source