Tectonic Metals gets funding for gold exploration in Alaska
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Exxon Mobil Corp. (NYSE:XOM) and its Canadian subsidiary Imperial Oil Resources Ltd. (TSX:IMO) applied to the National Energy Board today for approval to export 30 million tonnes of LNG from the west coast of B.C.
According to the filing, Exxon and Imperial are seeking to export LNG for a period of 25 years.
Exxon and Imperial are currently investigating the Biche Creek site near Kitimat and Grassy Point near Prince Rupert to build an LNG plant.
Earlier this year, Exxon filed a formal expression of interest for Grassy Point following a request from the B.C. government seeking applications for the site.
In an email to Business in Vancouver, Imperial Oil’s Pius Rolheiser wrote: “The export license application is a key enabler to progressing further project evaluation activities. While it does not imply a commitment to build a facility, it provides further support for continued engagement with First Nations, regulators, customers and pipeline companies. A final investment decision will be made following government and regulatory approvals, and will be based on a range of factors.
“Imperial and ExxonMobil Canada are in the relatively early stages of assessing the potential for an LNG export facility in B.C., including assessing potential sites for a facility in the vicinity of either Kitimat or Prince Rupert areas. If a decision to proceed with a development is made, the first export of LNG could be as early as the 2021-2023 timeframe, depending on the pace of regulatory approvals and a final investment decision.”
By Sean Kolenko
