Liquefied Natural Gas Ltd.: Bear Head LNG Reaches Agreement to Purchase Additional Land
29.03.2016 | ABN Newswire
Perth, Australia - Liquefied Natural Gas Ltd. (ASX:LNG) (OTCMKTS:LNGLY) announced that its 100% owned subsidiary, Bear Head LNG Corporation, Inc. (Bear Head LNG) today reached an agreement to purchase additional land from Nova Scotia Business Inc. (NSBI) to support expansion of its proposed liquefied natural gas (LNG) facility on the Strait of Canso in Richmond County, Nova Scotia."The acquisition of additional land is very important for our project. It enables us to increase the capacity of the LNG facility from a nominal eight million tonnes per annum (mtpa) up to 12 mtpa in 2024, as per our approval from the National Energy Board,'' said Maurice Brand, President of Bear Head LNG. "Over the past couple of years, Bear Head LNG has made significant progress on the project by obtaining regulatory certainty.
This agreement between Bear Head LNG and NSBI is important for future development and planning, thus facilitating economic growth and job creation in the Strait region."
Under the agreement reached with NSBI, Bear Head LNG will acquire an additional 72-acres of land directly adjacent to its existing 255-acre site on the Strait of Canso.
"We are pleased to work with Bear Head LNG, which is involved in a growing and vital LNG export sector in North America," said Warren Olsen, CAO, Richmond County Municipality.
"Bear Head LNG is committed to supporting the local economy in Nova Scotia that will provide substantial economic and social benefits for the community, First Nations, and Nova Scotia."
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 have free trade agreements (Non-FTA) with the US. Canada's National Energy Board has granted Bear Head LNG approval to export up to 12 million tonnes per annum of LNG. Further, Bear Head LNG has all the initial federal, provincial, and municipal regulatory approvals required to begin project construction.
In addition, Bear Head LNG has recently opened an office in Halifax. The company is continuing to expand its presence in Nova Scotia. Brand said opening an office in Halifax is another step in expanding its local presence and further demonstrates the company's commitment to advancing the Bear Head LNG project.
Project Director & Vice President of Engineering, Construction and Permitting Darshi Jain, Strategic & Regulatory Affairs Advisor Paul MacLean, and Chief Technology Officer for LNGL & Executive Responsible for Bear Head LNG, John Baguley.
About Bear Head LNG Corporation, Inc.
Bear Head LNG is wholly owned by Liquefied Natural Gas Ltd.. Bear Head LNG proposes to develop a liquefied natural gas export facility on the Strait of Canso, Nova Scotia, Canada.
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About Liquefied Natural Gas Ltd:
Liquefied Natural Gas Ltd. (ASX:LNG) (OTCMKTS:LNGLY) is an Australian listed company focused on development of mid-scale LNG plants. LNGL's business strategy aims to deliver lower capital and operating costs, faster construction timelines and improved efficiency, relative to larger traditional LNG projects. LNGL's portfolio includes 100% ownership in Magnolia LNG LLC, Bear Head LNG Corporation, Bear Paw Pipeline Corporation Inc., Gladstone LNG Pty Ltd, and LNG Technology Pty Ltd, which owns and develops the patented OSMR(R) LNG liquefaction process.
Source: Liquefied Natural Gas Ltd.
Contact:
Investment Community:
Mr. Mike Mott Chief Financial Officer LNG Limited
T: +1-713-815-6909
www.lnglimited.com.au
Media:
Mr. Darshi Jain, Project Director Bear Paw Pipeline Corporation
T: +1-902-403-7607 (N America)
T: +011-902-403-7607 (Int'l)
www.bearpawpipeline.com
LNG Ltd
T: +61-8-9366-3700
E: lng@lnglimited.com.au
www.lnglimited.com.au
