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(; OTC ADR:LNGLY) has filed an updated registration document with Nova Scotia Environment (NSE) for its Bear Head LNG project in Canada.
Approval of this update is expected in the second quarter of this year.
The NSE approval would be the last of the 10 initial federal provincial and local regulatory approvals needed to construct a LNG export facility on the Strait of Canso in Nova Scotia.
Bear Head LNG has also signed a Memorandum of Understanding with the Assembly of Nova Scotia Mi’kmaq Chiefs to ensure meaningful Mi’kmaq participation and continued negotiations in relation to a benefits agreement.
“We look forward to the continuing participation of the Mi’kmaq throughout the development of our LNG facility in Point Tupper” Bear Head LNG chief operating officer John Godbold said.
Chair of the Assembly of Nova Scotia Mi'kmaq Chiefs Chief Terrance Paul said the agreement was an important step.
“We are confident that the relationship we have developed during these discussions with Bear Head LNG will grow and enable us to create opportunities for the Mi'kmaq of Nova Scotia.”
Appointment
Bear Head LNG has appointed Darshi Jain as vice president of engineering and construction.
He has nearly four decades of energy industry experience which includes 33 years with KBR a leading global engineering construction and services company where he played leadership roles in managing several multi‐billion dollar projects.
“We are fortunate to have Mr. Jain in this key position for the successful development and delivery of the Bear Head LNG project” Godbold said.
“He will have a wide range of responsibilities which will include taking the lead on engineering and technical efforts to clear major conditions in key environmental and construction permits and supervising the overall engineering and construction process to achieve project completion.”
Bear Head LNG
Bear Head LNG is a proposed 8 million tonne per annum project that is located on the deep ice‐and dredge free waters of the Strait of Canso in Point Tupper Richmond County Nova Scotia.
It is being developed on a 255‐acre site comprising industrial‐zoned land (180 acres) and deep‐water acreage (75 acres) that was partially developed for a LNG import terminal and then maintained in hot idle status.
In August 2014 LNG Ltd acquired the project from Anadarko Petroleum Corporation (NYSE:APC) for US$11 million giving it a second North American LNG project that expands and diversifies its development pipeline.
Prior owners had spent more than $100 million to design and complete engineering work and site construction of the Bear Head LNG site in the early to mid 2000’s.
Bear Head LNG project will use LNG Ltd’s patented OSMR® liquefaction technology and integrate the design and engineering work already completed for the 8Mtpa LNG export terminal being developed in Louisiana for the company’s wholly-owned Magnolia LNG in Louisiana into existing feed for the project.
LNG Ltd remains well funded with a cash balance of $53.2 million and no debt as at 31st December 2014.
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