The National Energy Board announced today that LNG Canada, the LNG proposal headed by Shell Canada, has received a 25 year export licence.
The licence will allow the company to export 670 million tonnes of LNG over that 25 years period.
The maximum annual quantity will be 24 million tonnes, which is 1.18 trillion cubic feet.
The NEB said in a release that they were satisfied that the quantity of gas that the company will be exporting will, essentially, still leave enough for Canada’s own use.
Shell Canada owns 100 per cent of the proposed Kitimat-based LNG facility, but it will be developed jointly with Diamond LNG Canada (an affiliate of Mitsubishi Corporation), Kogas Canada (an affiliate of Korea Gas Corporation) and Phoenix Energy Holdings (an affiliate of PetroChina Investment).