CALGARY, May 8, 2015 /CNW/ – The National Energy Board (NEB) has approved the application of WesPac Midstream – Vancouver LLC (WesPac) for a 25 year natural gas export licence with a maximum term quantity of 116.44 billion cubic metres1. The issuance of this licence is subject to the approval of the Governor in Council.
When evaluating natural gas and LNG export licence applications, the NEB considers if the quantity of gas proposed to be exported is surplus to Canadian requirements, taking into account trends in the discovery of gas in Canada.
The NEB has determined that the quantity of gas proposed to be exported by WesPac is surplus to Canadian needs. The NEB is satisfied that Canada’s gas resource base, and the overall gas resource base in North America, is large and can accommodate reasonably foreseeable Canadian demand. This demand would include the LNG exports proposed by WesPac as well as a plausible potential increase in Canadian demand.
Consistent with the evidence submitted in WesPac’s application, the NEB believes that not all LNG export licences issued by the Board will be used or used to their full allowance. The NEB evaluates each application based on its own merit.
The approved export points are: the outlet of the loading arm at the WesPac LNG Marine Terminal in Delta, British Columbia (B.C.); the marine cargo terminals in the metropolitan area of Vancouver, B.C.; as well as the highway border crossings along the international boundary between B.C. and the U.S.
The National Energy Board is an independent federal regulator of several parts of Canada’s energy industry with the safety of Canadians and protection of the environment as its top priority. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest.
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1 Applied-for term quantity including a 12.5% term tolerance.
SOURCE National Energy Board