CNOOC Seeks LNG Export LicenseChina’s top offshore oil explorer, CNOOC Ltd, has applied for permission from Canadian energy regulators to export up to 24 million tonnes of LNG over a 25-year period along Canada’s West Coast. CNOOC and its Japanese partners plan to build a massive liquefaction and export facility to ship gas from CNOOC’s shale gas properties located in Western Canada to energy-starved markets in Asia. These gas properties were acquired as part of CNOOC’s heavily debated $15.1 billion takeover of Nexen.  The Province of British Columbia hopes that the industry will bring in billions in tax revenues and create thousands of jobs, encouraging major energy companies to start work on terminals for the Pacific coast. The National Energy Board has already approved three export licenses and is in the process of reviewing five more, in addition to the CNOOC terminal.

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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