Canada courts LNG consumer, South Korea

July 24, 2013 at 7:43 AM
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VANCOUVER, British Columbia, July 24 (UPI) -- The Canadian government said it was interested in establishing a better trade relationship with South Korea, one of the world's largest LNG consumers.

Canadian Prime Minister Stephen Harper has courted Asian economies to diversify an energy sector dependent on U.S. markets. Natural Resources Minister Joe Oliver met with South Korean business representatives on a west coast tour this week.

Oliver said the government viewed trade with South Korea as a top priority. South Korea is the second largest importer of liquefied natural gas in the world.

"Our government recognizes that exports to South Korea are an important contributor to Canada's prosperity," he said Tuesday.

The Canadian National Energy Board said this week it was reviewing LNG applications.

Imperial Oil Resources Ltd. and Exxon Mobil Canada Ltd. filed an application Wednesday with the NEB for the approval of an LNG terminal on the west coast of British Columbia.

"The request to the NEB is for authorization to export up to 30 million tons of LNG per year for 25 years," the companies said.

BG Group filed a separate application to export 14 million tons of LNG per year from a proposed facility on Ridley Island near Prince Rupert, British Columbia.

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