Minister welcomes LNG Limited’s Bear Head purchase
The Nova Scotia Department of Energy has congratulated LNG Limited on its proposal to develop an LNG export facility at Bear Head, near Port Hawkesbury.
LNG Limited announced an agreement to acquire 100% of Bear Head LNG Corp. from Anadarko Petroleum. The sale is expected to close before the end of August. LNG Limited will make the site an LNG export facility, with possible future expansion, based on the market.
Gas supply/transportation plan
As part of the project, the company has developed a gas supply and transportation plan, and secured interest from several parties to pay tolls to use the facility in Bear Head.
Energy Minister Andrew Younger met with LNG Limited representatives and is satisfied the company wants to work with the community to build a sustainable project.
LNG export destination
Commenting on the news, Younger said: "This is a great step toward making Nova Scotia an LNG export destination and represents a tremendous opportunity for rural economic development.
“LNG L[imited] chose to set up this business in Nova Scotia over a number of other viable markets. They chose Nova Scotia because of our proximity to the world's major markets, our established regulatory regime, and the support displayed by Nova Scotians for these types of projects.
"This project is off to a solid start with the partial development at Bear Head, which means reduced risk for LNG L[imited]. LNG L[imited] also has an experienced executive team to drive the project's development, further increasing the export terminal's likeliness of success."
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/30072014/nova-scotia-welcomes-lng-limited-bear-head-move-1104/
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