Liquefied Natural Gas Limited to Acquire Nova Scotia LNG Terminal Site

Liquefied Natural Gas Limited (LNGL) announced that it will acquire the Bear Head LNG terminal site in Nova Scotia for US$11 million.  The site was at one time being developed as an LNG import terminal by Anadarko Petroleum.  LNGL states that it proposes to develop the site for a 4 million tonnes per year LNG export project with potential for future expansion.  The Company added that there is interest from several parties to enter into tolling agreements and that it will adopt the same business model as LNGL’s proposed Magnolia LNG Project in Lake Charles, La.  LNGL further stated that it is in discussions with pipelines and producers to provide gas supplies from onshore and offshore Canada and the Marcellus Shale to the Bear Head LNG project site.

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