President and CEO of Progress Energy Canada Ltd and Pacific NorthWest LNG, Michael Culbert, has welcomed the National Energy Board’s (NEB) recommendation for government approval of the North Montney Mainline project.
Culbert commented: "This decision is a key component to fulfilling a core requisite that informs our Final Investment Decision [FID]. With this decision in hand – and awaiting other regulatory approvals, Petronas and our partners will continue to work cautiously toward a FID on the Pacific NorthWest LNG (PNW LNG) project."
LNG export terminal
The North Montney Mainline will increase capacity on the Nova Gas Transmission System, providing transportation infrastructure from Progress Energy's upstream natural gas reserves to the proposed Prince Rupert Gas Transmission Line which will supply Pacific NorthWest LNG's liquefaction export terminal near Prince Rupert, British Columbia (B.C.).
"While great strides are being made to bring fiscal and regulatory certainty to our project, in order to achieve a positive FID, Canadian LNG will need to be competitive with other supply sources available to the Asian markets," Culbert added.
"2015 marks the culmination of a successful appraisal phase for the upstream components of the project. We transformed our land position from a sizeable opportunity to a true world class unconventional resource. During this period we defined the resource potential of the North Montney, delivered aggressive reserve and production growth, advanced our technical skills and competence, and ramped up operations in a safe and compliant manner.
He concluded: "We expect 2015 to be a watershed year for the province and the country. It is our hope that Pacific NorthWest LNG will be the leader in helping our nation realise the LNG opportunity that will benefit generations to come.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17042015/north-montney-recommendation-for-approval-welcomed-608/