NEB approves 25-year export licence to LNG Canada Development Inc.

CALGARY, Feb. 4, 2013 /CNW/ - Today, the National Energy Board (NEB or the Board) approved an application by LNG Canada Development Inc. (LNG Canada) for a licence to export liquefied natural gas (LNG) from a proposed terminal near Kitimat, British Columbia.

The export licence will authorize LNG Canada to export 670 million tonnes of LNG (approximately equivalent to 32.95 trillion cubic feet of natural gas) over a 25-year period. The maximum annual quantity allowed for export will be 24 million tonnes of LNG (approximately equivalent to 1.18 trillion cubic feet of natural gas). The daily equivalent of these exports is 3.23 billion cubic feet per day.

In approving the application, the Board satisfied itself that the quantity of gas to be exported does not exceed the surplus remaining after due allowance has been made for the reasonably foreseeable requirements for use in Canada, having regard to the trends in the discovery of gas in Canada.

The National Energy Board is an independent federal regulator of several parts of Canada's energy industry. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest.

This news release is available on the NEB's Internet site at www.neb-one.gc.ca under What's New!

National Energy Board Library
Ground Floor
444 Seventh Avenue SW
Calgary, Alberta
T2P 0X8
E-mail: library@neb-one.gc.ca
Telephone: 403-299-3561
Telephone (toll free): 1-800-899-1265
Facsimile: 403-292-5576
Facsimile (toll free): 1-877-288-8803
TTY (teletype): 1-800-632-1663

SOURCE: National Energy Board

For further information:

Ruth Anne Beck (Ruthanne.beck@neb-one.gc.ca)
Communications Officer
Telephone: 403-299-3633
Telephone (toll free): 1-800-899-1265
Facsimile: 403-292-5503
Facsimile (toll free): 1-877-288-8803
TTY (teletype): 1-800-632-1663