LNG Ltd. to acquire Bear Head LNG project

摘要

Liquefied Natural Gas Ltd. (LNGL) announced it will purchase the Bear Head LNG project in Canada from a subsidiary of Anadarko Petroleum Corp. for $11 million. The previously shelved project was designed as an import terminal but cancelled by Anadarko in 2006. Rather than continue its development as an import terminal, LNGL will instead re-develop the site into a 4-mtpa export terminal, with the option to expand in the future. Significantly, the 100% acquisition, which LNGL expects to close on or before Aug. 31, will assume all assets, including the 255 acre industrial-zoned site in Richmond County, Nova Scotia, as well as LNG tank foundations, completed civil works, and importantly, project rights and approvals.