Significant approval in Canada's LNG industry

The license, awarded to LNG Canada, a collaborative effort from Shell, Korea Gas Corp., Mitsubishi Corp., and PetroChina International, will allow the exportation of up to 24 million tones of LNG per year, which is the largest of three export licenses awarded to date.   

Natural Resources Minister Joe Oliver says the approval for LNG Canada Development Inc. is extremely significant when considering B.C.’s plans for a trillion-dollar LNG sector.

Oliver adds that global energy demand is expected to see an increase of 35 per cent by 2035, and Canada will be poised to take advantage when it does.

The LNG Canada terminal is one of five proposed for the British Columbia coast, and the project has yet to undergo an environmental assessment.