BEAR HEAD LNG RECEIVES GOVERNOR IN COUNCIL APPROVAL HALIFAX, Nova Scotia – Bear Head LNG Corporation, Inc. (Bear Head LNG) is pleased to announce it has received Governor in Council approval for a licence to import natural gas from the United States and a licence to export liquefied natural gas (LNG) from Bear Head LNG’s project site on the Strait of Canso in Richmond County, Nova Scotia. The National Energy Board’s approval to import and export natural gas was previously issued in August 2015, but was subject to the approval of the Governor in Council. “The Government of Canada’s approval of Bear Head LNG’s natural gas import and LNG export licences is welcome news,” said Greg Vesey, Managing Director and CEO of Liquefied Natural Gas Limited and President of Bear Head LNG. “The strategic importance of these approvals, as well as the regulatory certainty that it provides, distinguishes Bear Head LNG in the North American LNG marketplace. Bear Head LNG is well positioned to be a major global supplier of LNG.” The licences authorize Bear Head LNG to import up to 14.2 billion cubic metres of natural gas per annum, which would be sufficient to export up to 12 mtpa of LNG from Canada, both licences are for a period of 25 years. Bear Head LNG has approval from the US Department of Energy to export US‐sourced natural gas to both nations that do (FTA) and nations that do not (Non‐FTA) have free trade agreements with the US. ABOUT BEAR HEAD LNG CORPORATION, INC. Bear Head LNG is wholly owned by Liquefied Natural Gas Limited. Bear Head LNG proposes to develop a liquefied natural gas export facility on the Strait of Canso, Nova Scotia, Canada. All required initial permits are now in place for Bear Head LNG to construct the LNG export facility. Canada's National Energy Board and the U.S. Department of Energy have granted export licenses for the facility. LNG produced at the facility will be transported by LNG vessels to overseas markets.
LNG Price at posting:
85.3¢ Sentiment: Buy Disclosure: Held
