The licence will allow it to export 670 million tonnes of LNG over a 25 year period, with a maximum of 24 million tonnes a year. That's equivalent to 3.4-billion cubic feet per day, which equals a quarter of Canada’s entire output last year.
Spokesperson David Williams has said they intend to build their first terminal to half of the requested capacity, with the option to expand the project to a total of four units or 24 million tonnes. TransCanada was selected to build the estimated $4 billion pipeline, which will run from the Montney region near Dawson Creek.
In its approval, the NEB said it is satisfied that the requested amount does not exceed what will be left over after what's forecasted to be needed in Canada.
This is the third major licence to be approved, after two for the Kitimat LNG and B.C. LNG projects.