Update On LNG-Related Activity In British Columbia: Regulatory And Contracting Advances

British Columbia's new liquefied natural gas (LNG) sector was particularly lively in the weeks since our mid-December update. To keep our readers up-to-date, we have prepared the following brief summary of recent notable LNG sector activity.

Since our last post:

• The National Energy Board (NEB) approved applications for 25 year natural gas export licences to export LNG to:
  • Prince Rupert LNG Exports Ltd., proposed by the BG Group, for a maximum of 21.6 million tonnes per year and 592 million tonnes over the term;
  • Pacific NorthWest LNG Ltd., proposed by PETRONAS/Progress Energy, for a maximum of 19.68 million tonnes per year and 555 million tonnes over the term;
  • WCC LNG Ltd., for Imperial Oil and ExxonMobil Canada Ltd., for a maximum of 30 million tonnes per year and 800 million tonnes over the term; and