Microsoft Word - Release ASX 2015-3-16 Bear Head Approvals Status Final.docx
ASX/MEDIA RELEASE
16 MARCH 2015
BEAR HEAD LNG RECEIVES PERMIT TO CONSTRUCT
Liquefied Natural Gas Limited (ASX:LNG; OTC ADR:LNGLY) wishes to announce that its wholly owned subsidiary, Bear Head LNG Corporation (Bear Head LNG) has received a permit to construct its proposed 8 mtpa LNG project from the Nova Scotia Utility and Review Board. The final approval required, from the Nova Scotia Environmental Board, is expected in the second quarter of 2015.
Company Managing Director and President of Bear Head LNG, Maurice Brand, said that the project was making excellent progress with all permits and approvals with the objective that these are all completed by 30 June 2015.
"We are continuing to make very good progress on gas supply to Bear Head and are actively marketing the project with a number of LNG buyers, "said Mr Brand.
Please refer to the Media Release on the following pages for more information.
For further information contact:
Mr Maurice Brand Mr Mike Mott
Managing Director/ CEO Chief Financial Officer
Liquefied Natural Gas Limited
Level 1 10 Ord Street, West Perth WA 6005
Telephone: +61 8 9366 3700 Facsimile: +61 8 9366 3799
Email: [email protected]
Web site: www.LNGLimited.com.au
DisclaimerForward‐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. For a discussion of important factors which could cause actual results to differ from these forward‐looking statements, please refer to LNG Limited's Annual Report and Accounts. LNG Limited 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.
News Release - March 13, 2015
Bear Head LNG Receives Permit to Construct
HALIFAX, Nova Scotia - The Nova Scotia Utility and Review Board (UARB) today issued Bear Head LNG Corp. ("Bear Head LNG") an updated and amended Permit to Construct, making the project the first in Eastern Canada to be granted such authorization. This approval followed a recommendation from Lloyd's Register, the UARB's certifying authority.
Bear Head LNG has now obtained nine of the 10 initial Canadian federal, provincial, and local regulatory approvals needed to construct a liquefied natural gas export facility on the Strait of Canso in Nova Scotia.
The UARB had first permitted Bear Head LNG as an LNG import facility in 2005. Facilities were partially constructed and have been kept in "hot-‐idle" status since 2008. The UARB previously granted extensions of the Permit to Construct in 2009 and 2013.
Another major milestone was reached on February 9, 2015, when the Canadian Environmental Assessment Agency (CEAA) issued a letter concluding that the Bear Head LNG project is substantially the same as the project previously approved by CEAA. As a result, no further agency review is required.
Bear Head LNG is now the only LNG project on the East Coast of Canada with all of the following project approvals and permits in place. Some of these approvals would take a minimum of 18 months to secure if such approvals had not been previously obtained and appropriately maintained as active.
APPROVALS AND PERMITS IN PLACE
-‐ Permit to Construct (UARB)
-‐ Transport Canada CEAA Screening (Federal Government)
-‐ Navigable Waters Protection Act Authorizations (Federal Government)
-‐ Fisheries and Oceans Canada CEAA Screening (Federal Government)
-‐ Authorization for Works or Undertakings Affecting Fish Habitat (Federal Government)
-‐ Environment Act Water Approval - Wetland Infill (Government of Nova Scotia)
-‐ Breaking Soil of Highways Permit (Government of Nova Scotia)
-‐ Development Permit (Municipality of Richmond County)
-‐ Beaches Act Clearance (Government of Nova Scotia)
"Bear Head LNG's preservation of the project's permits and approvals was critical in allowing us to make
the progress we have achieved," John Godbold, Bear Head LNG's Project Director said.
The last of the 10 initial Canadian environmental and engineering approvals required is an updated and amended registration document which will soon be filed with Nova Scotia Environment (NSE), the provincial government department with a broad mandate to protect the environment. Bear Head LNG has submitted project description information to the department and anticipates NSE approval of this permit amendment in the second quarter of this year.
"We are quickly wrapping up the process of modifying the existing permits and approvals needed to construct a facility that will connect North American natural gas supplies with some of the world's most significant LNG markets," said Godbold.
Once constructed, the Bear Head LNG project will have an initial production capacity of 8 million tons per annum (mtpa) of export LNG. Godbold said project timing will depend on regulatory approval, as well as contracts with gas suppliers and LNG buyers. He said if the regulatory process continues to advance without major delay the facility would be in operation by 2019.
The Bear Head LNG site is located on the Strait of Canso in Point Tupper, Richmond County, Nova Scotia, which is about half the shipping distance to major European markets compared to U.S. Gulf Coast ports, and is closer than its North American competitors, including those in British Columbia, to other burgeoning natural gas markets such as India. The Strait of Canso provides an ice-‐free natural
deepwater port with direct access to the North Atlantic.
About Liquefied Natural Gas Limited
Liquefied Natural Gas Limited 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, which is progressing the 3.8 mtpa Fisherman's Landing LNG project at the Port of Gladstone in Queensland, Australia, and LNG Technology Pty Ltd, which owns and develops the OSMR® LNG liquefaction process.
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For further information, contact:
email: [email protected]
phone: 1-‐902-‐425-‐1600 (Calls from within North America)
011-‐902-‐425-‐1600 (International calls)
www.BearHeadLNG.com
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, which 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.