The Kitimat LNG project has been granted a 20-year export licence to ship liquefied natural gas (LNG) from Canada to international markets, project partners Apache Canada Ltd. (NYSE: APA), EOG Resources Inc. (NYSE: EOG) and EnCana Corp. (TSX: ECA) announced today.
“The Kitimat LNG project represents a remarkable opportunity to open up Asia-Pacific markets to Canadian natural gas, and we’re leading the way in being able to deliver a long-term, stable and secure supply to the region,” Janine McArdle, Kitimat LNG president, said in a news release.
“This export licence approval is another major milestone for Kitimat LNG as we market our LNG supply. LNG customers can have even more confidence in a new source of supply.”
The planned export facility would be served by Pacific Trail Pipelines Limited Partnership’s natural gas pipeline, slated to run from Summit Lake to Kitimat.
Calgary-based EnCana bought a 30% stake in the Kitimat LNG project in March, joining Apache and EOG as a new project partner.
At the time, EnCana president and CEO Randy Eresman deemed B.C.’s natural gas “a remarkable opportunity” to expand North American energy trade to other continents. (See “Encana buys 30% of Kitimat LNG terminal” – BIV Business Today, March 18.)
Jenny Wagler
@JennyWagler_BIV