Grassy Point LNG has received a license from the National Energy Board to export the liquefied gas from a proposed facility at Grassy Point, near Prince Rupert.
The license is for 25 years and caps out at 807 billion cubic metres.
This is the tenth LNG export facility in B.C. to get an export license.
In November of last year, Grassy Point LNG made a sole proponent agreement with the government of British Columbia for exclusive rights to access land at Grassy Point with the intent of building an LNG export facility there.
“Export approvals are a significant step for an LNG proposal to reach, providing the proponent with the assurance they need to speak with customers in Asia who are interested in British Columbia’s natural gas,” said Minister of Natural Gas Development Rich Coleman in a press release this past Friday.
Grassy Point LNG is one of two projects that Australia’s largest independent oil and gas company, Woodside, is involved in.
The other is Kitimat LNG. In December, Woodside bought out Apache’s stake in for nearly $4-billion. That deal is expected to close in the first half of this year.
In August 2014, the proponents filed for an environmental assessment certificate with the BC EAO.
In December 2014 Woodside purchased Apache’s stake in Kitimat LNG.
It is unclear if Woodside would pursue both projects simultaneously. Expect clarity on Grassy Point LNG only after the Apache stake acquisition is finalized.
The first phase of Grassy Point LNG would come with a $10 to $15 billion price tag.