VANCOUVER, B.C. – A new agreement has been announced today between Steelhead LNG and Seven Generations Energy Ltd that is giving the two companies as well as Aboriginal Groups and communities a look at development of new midstream infrastructure to support Steelhead LNG’s proposed natural gas liquefaction and export projects on Vancouver Island.
The release states the arrangement also includes Seven Generations buying a minority interest in Steelhead LNG. The arrangement could provide new markets for Seven Generations’ production and increased certainty of natural gas supply for Steelhead LNG.
“This arrangement with Seven Generations creates an opportunity, in the current price environment, for a liquefied natural gas solution from well-head to customer that’s uniquely led by Canadian companies,” said Steelhead LNG Chief Executive Officer Nigel Kuzemko. “Our shared focus on engaging early and often with Aboriginal groups and communities, combined with our collective commitment to produce and deliver low cost, low emissions Canadian natural gas, positions each company to succeed in expanding Canada’s exports of clean-burning natural gas to Asian markets.”
Rich Coleman, BC Minister of Natural Gas Development, says this will benefit all Canadians.
“This partnership formed by Steelhead LNG and Seven Generations Energy is an example of Canadian companies working together in innovative ways to deliver Western Canadian natural gas to market, which benefits not only British Columbians and Albertans, but all Canadians. Their commitment to work with First Nations and communities in a collaborative manner, while at the same time support British Columbia’s role as a leader in progressing global climate change objectives, will contribute to the success of these projects. While LNG markets are challenging at the moment, with projects like these and others under development, British Columbia will be exceptionally well-positioned to become a leading supplier of LNG to Asian markets in the coming years.”
In the press release, it states Steelhead and 7G believe that helping countries shift away from GHG-intensive energy should be a top priority.