Le Lézard
Classified in: Oil industry, Business
Subject: LIC

NEB approves Quicksilver's export licence

CALGARY, June 30, 2015 /CNW/ - The National Energy Board (NEB) has approved the application of Quicksilver Resources Canada Inc. (Quicksilver) for a 25 year natural gas export licence with a maximum term quantity of 733 billion cubic metres 1 . 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 Quicksilver 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 Quicksilver as well as a plausible potential increase in Canadian demand.

The approved export points are the north side of Campbell River, British Columbia, at the outlet of the loading arm of a proposed natural gas liquefaction terminal.

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 15% annual tolerance.


SOURCE National Energy Board

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