CALGARY, Dec. 16, 2013 /CNW/ - The National Energy Board (NEB or Board)
has approved applications for 25 year natural gas export licences to
export liquefied natural gas (LNG) to:
Prince Rupert LNG Exports Ltd. for a maximum term amount of 824.58 109 m3,
Pacific NorthWest LNG Ltd. for a maximum term amount of 798.96 109 m3,
WCC LNG Ltd. for a maximum term amount of 1,103 109 m3, and
Woodfibre LNG Export Pte. Ltd. for a maximum term amount of 85.52 109 m3.
Issuance of the licences to export LNG is subject to the approval of the
Governor in Council.
Recent developments in gas production technology have resulted in a
significant increase in the Canadian gas resource base and North
American gas supply. One of the major impacts of this increase is lower
demand for Canadian gas in traditional gas markets in the United States
and eastern Canada. As a result, the Canadian gas industry is seeking
to access overseas gas markets through exports of LNG.
When evaluating LNG export licence applications, the Board considers if
the quantity of gas proposed to be exported is surplus to Canadian
requirements, taking into account trends in the discovery of gas in
Canada. Each application is assessed on its own merits. The Board
determined that the quantity of gas proposed to be exported for each
application will be surplus to Canadian requirements. The Board is
satisfied that the gas resource base in Canada, as well as North
America, is large and can accommodate reasonably foreseeable Canadian
demand, the LNG exports in these applications, and a potential increase
in demand. The Canadian natural gas market will continue to respond
appropriately to changes in supply and demand.
The Board continuously monitors the Canadian and North American natural
gas market. The Board has technical expertise in gas market supply and
demand fundamentals and geological resource assessment. Natural gas market assessments, including long-term and short-term reports, are available on the
Board's website. For a full list, please see Energy Report - Natural Gas.
The National Energy Board is an independent federal regulator of several
parts of Canada's energy industry with the safety of Canadians and
protection of the environment as its top priority. Its purpose is to
regulate pipelines, energy development and trade in the Canadian public
interest. For more information on the NEB and its mandate, please visit
This news release is also available on the Board's Internet site under What's New!
SOURCE: Government of Canada
For further information:
TTY (teletype): 1-800-632-1663