Liquified Natural Gas Limited
(ASX:LNG) says that its wholly owned subsidiary, Bear Head LNG has been given the go-ahead for the construction of its natural gas export facility on the Strait of Canso in Nova Scotia.
It’s the first such project of its kind in Eastern Canada with nine of the ten required approvals already in place. The final of the initial Canadian environmental and engineering approvals required is expected by June.
The facility had originally been slated as an import facility in 2005. Partial construction had started and been kept in hot-idle status since 2008.
Once construction is complete the Bear Head LNG project will have initial production capacity of 8 million tonnes per annum of export LNG. The Strait of Canso provides ice-free direct access to the North Atlantic.
Liquified Natural Gas made a net loss of $20 million for the full year ended 31 December 2014.
