Bear Head LNG gets green light By Staff reporter Posted 18 February 2015 14:19 GMT
Bear Head LNG, Canada’s $4 billion Cape Breton liquefaction project, has received approvals from environmental and regulatory authorities.
Partially constructed by Anadarko Petroleum as a $650 million import terminal, new owners LNG Ltd plan to develop the site into a 4 mtpa export project. An FID is expected by 2016, with first LNG being sent out by 2019.
Gas will be sourced from the Marcellus shale play in the United States, where the project is waiting for US Department of Energy approval to export 14.3 billion cubic metres per year via pipeline. Bear Head hopes to be the first project to export LNG from Canada.
The five North American east coast export projects, which aim to sell to European customers looking to diversify their supply portfolios, are looking more likely to succeed than the dozen or more planned west coast projects.
Projects on British Columbia’s west coast have targeted Asian buyers, but the global drop in oil and LNG prices and a glut of LNG supplies have seen most projects put on hold.
