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Pacific NorthWest LNG Applies for NEB License
Pacific NorthWest LNG has applied to the National Energy Board (NEB) for a license to export up to 19.68 million tonnes (mmty) of liquefied natural gas (LNG) per year for 25 years beginning in 2019 from its proposed facility in Port Edward, British Columbia (BC), not far from nine other proposed LNG projects centered on Prince Rupert, BC.
Pacific NorthWest is a project being developed by Calgary-based Progress Energy, and its new owner, Malaysian state gas and oil conglomerate Petronas (see Daily GPI, June 24; June 29, 2012).
“We believe the successful completion of our project will create long-term, multi-generational benefits for First Nations, northwest BC, the province and the country as a whole,” said Pacific NorthWest LNG President Greg Kist. “While we continue our work to reach a final investment decision in late 2014, we believe that our project has all of the key components of a successful, world-class LNG development.”
The proposed facility represents an investment of $9-11 billion. The project would be supplied with gas sourced primarily from Progress Energy Canada’s assets in northeast BC. The export project is ultimately owned, through various subsidiaries, by Petronas, which has a 90% interest in the project, and Japex, which has the remaining 10%.
The Pacific Northwest project enters a highly competitive field of LNG export projects, the most recent one just announced by ExxonMobil Corp. and its Canadian affiliate Imperial Oil Ltd. (see related story).
“Pacific NorthWest LNG’s export application is more welcome news, which will help us achieve our goal to be a leader in clean energy supply and export,” said BC Premier Christy Clark. “Our ability to reach new markets will enable British Columbia’s natural gas to create new jobs, strengthen our economy, and lead to a debt-free future.”
The project submitted its Project Description to the Canadian Environmental Assessment Agency (CEAA) in February. CEAA has issued environmental impact statement guidelines that will act as terms of reference for the project’s environmental assessment. Pacific NorthWest LNG intends to submit its environmental assessment to CEAA in late 2013.
Pacific NorthWest is among multiple projects have been proposed to export LNG from Western Canada (see Daily GPI, April 12). The Canadian projects, all greenfield, are seen by some to be handicapped by slow progress compared with U.S. Gulf Coast projects, some of which are under way (see Daily GPI, July 3).
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