CALGARY, A.B. – The proponents of what could be B.C.’s first LNG export terminal are one step closer to getting the project off the ground.
The National Energy Board has approved a 40-year export license for Woodfibre LNG, which has proposed an LNG export facility that would be built on the former site of a pulp mill near Squamish.
The license grants the company the right to export up to 3.34 billion cubic metres of natural gas per year.
The project was previously granted a 25-year export license back in 2013, however regulatory changes two years ago extended the maximum term to 40 years, prompting the company to re-apply.
In its decision, the board rejected a submission from project critics including the group My Sea to Sky which argued that granting the permit could lead to a shortage of gas for Canadian consumers over the long term.
“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 as well as the Applicant’s proposed LNG exports.”
The export license must still be given approval by Government in Council.
The Woodfibre project was granted federal approval in March of 2016, and got the final green light from investors in November.
The Squamish First Nation also granted conditional approval for the project in June 2016, contingent on 25 conditions.