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From The Globe and Mail

The board that regulates natural-gas exploration and production in Canada has approved its first 40-year export licence to a joint-venture company led by Shell.

The National Energy Board permit will allow LNG Canada to export up to 1,494-billion cubic metres of liquefied natural gas from a terminal that will be located near the B.C. north-coast community of Kitimat.

Until the National Energy Board Act was amended in June 2015, the maximum term length of an export permit was 25 years.

The licence must still be approved by the prime minister and his cabinet.

The announcement comes just days after the B.C. Oil and Gas Commission approved an LNG Canada facility permit, which outlines design, construction and operation requirements.

Shell Canada Energy and affiliates of PetroChina, Korea Gas Corp. and Mitsubishi Corp. are members of LNG Canada, which has not yet made a final investment decision on the project.

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