April 16, 2014 / 9:39 PM / in 4 years

Canada-Japan LNG joint venture cleared for exports

CALGARY, Alberta, April 16 (Reuters) - Canadian regulators approved a 25-year liquefied natural gas export license on Wednesday for the Triton LNG project backed by AltaGas Ltd and Japan’s Idemitsu Kosan Co, the latest in a number of planned liquefaction proposals for Canada’s West Coast to receive the clearance.

The National Energy Board said the Triton Project has been approved to liquefy and ship about 320 million cubic feet a day from a planned floating LNG facility whose site has not yet been chosen.

The approval is the latest for the nascent industry, following applications from other would-be projects such as the Kitimat LNG plant planned by Chevron Corp and Apache Corp. The projects are looking to take gas from Western Canada’s massive shale fields to high-paying Asian markets, though none have yet been approved by their backers.

Eight planned LNG facilities have now been granted export licenses. (Reporting by Scott Haggett; Editing by Mohammad Zargham)

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