Microsoft Word - Release ASX 2015-07-20 Magnolia LNG DEIS Issuance Final on LNG Letterhead.docx
ASX/MEDIA RELEASE
20 July 2015
Bear Head LNG Receives U.S. Department of Energy
Approval of Exports to FTA Countries
HALIFAX, Nova Scotia - On Friday, July 17th, the U.S. Department of Energy (DOE) granted Bear Head LNG Corporation and Bear Head LNG (USA), LLC (together Bear Head LNG) authorization to export up to 440 billion cubic feet (Bcf) per year of U.S. natural gas to Canada, and up to eight million tonnes per annum (mtpa) of liquefied natural gas (LNG) from Canada to free trade agreement (FTA) countries.
"This is an important step in achieving certainty of gas supply for the Bear Head project," said John Godbold, Bear Head Project Director. "The U.S. Department of Energy is implementing a regulatory framework that promotes trade and economic growth while balancing the provisions of the North American Free Trade Agreement, the U.S. Natural Gas Act and the U.S. National Environmental Policy Act." Bear Head LNG anticipates a decision in the near future on its application for DOE authorization to export LNG to non‐FTA countries. Godbold noted that only two interventions of minor substance were filed during the 60‐day comment period on Bear Head LNG's non‐FTA application.
Godbold also noted that Bear Head LNG is the first proposed Canadian LNG export facility to be recognized by the U.S. Federal Energy Regulatory Commission as an "Approved" Canadian LNG export project. In May 2015, Bear Head LNG Corp. obtained the last of the ten initial federal, provincial and local regulatory approvals needed to construct the facility located on the Strait of Canso in Nova Scotia.
Bear Head LNG Corp. has applied to Canada's National Energy Board (NEB) for authority to import natural gas from the U.S. and export up to 8 mtpa of LNG in 2019 from Canada, with expanded authority to 12 mtpa in 2024. Bear Head LNG expects these authorizations in the near future.
Bear Head LNG Corp. has also applied to the DOE for authority to import for subsequent export up to 250 Bcf per year of Canadian natural gas by pipeline that is "in transit" through the U.S., back into Canada for delivery to Bear Head LNG's proposed liquefied natural gas export facility. This authorization would allow a portion of the Bear Head LNG's natural gas requirements to come from sources in Western and Central Canada, enhancing commercial supply options.
Bear Head LNG President Maurice Brand pointed to the steady progress toward final regulatory clearance. "Great strides have been made in moving Bear Head LNG toward a final investment decision during 2016 as we continue to receive regulatory certainty for our facility. Over the next few months, we anticipate receiving our DOE approval to move Canadian gas through the U.S., the DOE non‐FTA export approval and the NEB import and export approvals from Canada."
About Bear Head LNG Corporation
Bear Head LNG is wholly owned by Liquefied Natural Gas Limited. Bear Head LNG proposes to develop an eight mtpa liquefied natural gas export facility on the Strait of Canso, Nova Scotia, Canada.
About Liquefied Natural Gas Limited
Liquefied Natural Gas Limited (LNGL) is an Australian listed company (Code: LNG and OTC ADR: LNGLY) focused on development of mid‐scale LNG plants. LNGL's business strategy aims to deliver lower capital and operating costs, faster construction timelines and improved efficiency, relative to larger traditional LNG projects. LNGL's portfolio includes 100% ownership in Magnolia LNG LLC, Bear Head LNG Corporation, Gladstone LNG Pty Ltd, and LNG Technology Pty Ltd, which owns and develops the OSMR® LNG liquefaction process.
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Media Investment Community
Mr. John Godbold Mr. Michael Mott
Chief Operating Officer/Project Director Chief Financial Officer
[email protected] [email protected]
+1‐902‐403‐7607 (Calls from within North America) +1‐713‐815‐6900
011‐902‐403‐7607 (International calls) www.lnglimited.com.au
www.BearHeadLNG.com
Liquefied Natural Gas Limited
Level 1, 10 Ord Street, West Perth WA 6005
Telephone: (08) 9366 3700 Facsimile: (08) 9366 3799
Email: [email protected]
Website: www.LNGLimited.com.au
Disclaimer
Forward-looking statements may be set out within this correspondence. Such statements are only predictions, and actual events or results may differ
materially. Please refer to our forward-looking statement disclosure contained on our website at www.LNGLimited.com.au and to the Company's
Annual Report and Accounts for a discussion of important factors that could cause actual results to differ from these forward-looking statements. The
Company does not undertake any obligation to update publicly, or revise, forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.