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Canada's National Energy Board approved the application of energy company,听Woodside Energy Holdings Pty Ltd.,听on Thursday听to export liquefied natural gas.听
Woodside Energy Holdings Pty Ltd. was granted a听natural gas export license for听25 years,听for a maximum听quantity of 807听billion cubic meters.听
The export point will be the Grassy Point LNG facility of Woodside Energy听on the west coast of听British Columbia near the Pacific Ocean.听
Upon听completion, Woodside's听project is planned to produce between 6 to 15 million tonnes per annum (8 - 10 billion cubic meters per year) of LNG,听and later听to increase overall capacity up to 20 million tonnes per annum (27 billion cubic meters per year) of LNG.听
The early estimated capital cost听of the project is between $10-15 billion (around US$8-12 billion), according听to company website.
Canada has 18 proposed projects to export LNG, however so听far听no investment decision has been finalized on any project because听of the听uncertainty of tax and environmental laws in the country.听
National Energy Board, which is the federal regulator of听Canada's energy industry, stated that the quantity of natural gas to be exported out of the country听must be听surplus to Canadian requirements.
Canada's proved natural gas reserves are estimated to be 67 trillion cubic feet (two听trillion cubic meters) while it has听an estimated technically recoverable shale gas resources of 573听trillion cubic feet (17听trillion cubic meters), according to the U.S. agency
According to the U.S.' Energy Information Administration, Canada听is the fourth-largest exporter of natural gas -听after Russia, Qatar, and Norway -听while almost all of its听natural gas exports are sent to the U.S.听via pipelines.听
By Ovunc Kutlu
Anadolu Agency
ovunc.kutlu@aa.com.tr
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