Australian company buys proposed Nova Scotia LNG site for $11M
The Bear Head project could lead to LNG exports to European markets.
PORT HAWKESBURY, NS — Australia-based Liquefied Natural Gas Ltd. is purchasing a potential natural gas export site in Nova Scotia from a subsidiary of Anadarko Petroleum Corp. for $11 million.
The company says the deal to buy the Bear Head LNG project outside Port Hawkesbury, NS, is scheduled to close at the end of next month.
The 100-hectare site includes land zoned for industrial purposes and there are two foundations in place for LNG tanks.
The project could lead to exports of LNG to European markets, the company says.
Anadarko Petroleum Corp. mothballed its plans for an LNG plant at the site seven years ago due in part to difficulties in accessing a supply of the fuel. Liquefied Natural Gas Ltd. says it is in talks with several potential suppliers.
There are two other LNG export sites proposed for Nova Scotia’s eastern coast.
Pieridae Energy Canada was given conditional approval earlier this year to proceed with its proposed LNG plant in Goldboro.
Earlier this month, Indian company H-Energy signed memorandums of understanding with customers for half of its planned output from a proposed LNG plant and export terminal in Guysborough County. Environmental approvals for that development have not yet been granted.
© 2014 The Canadian Press