VANCOUVER, BC--(Marketwired - May 05, 2016) - Highbank Resources Ltd. (TSX VENTURE: HBK) (FRANKFURT: V7O) (the "Company") is pleased to report on some of the latest northwest B.C., LNG, and related project news.
In the News:
Victoria - Support for the liquefied natural gas industry is growing among First Nations in northern B.C. To date, the Province has signed a total of 62 pipeline benefits agreements with 29 of 32 eligible First Nations that are located along four proposed natural gas pipeline projects: Pacific Trail Pipeline, Coastal GasLink Pipeline Project, Prince Rupert Gas Transmission Project, and the Westcoast Connector Gas Transmission Project.
Petronas and its partners hope to make a final decision within months on whether to build what could be Canada's first LNG export project.
"Depending on the timing of the CEAA (Canadian Environmental Assessment Agency) decision, we would hope that by late summer or early fall we would be in a position to follow up on (a final investment decision)," Michael Culbert, president of Pacific Northwest LNG, said in a phone interview.
The aboriginal support is instrumental for the project as it awaits a final decision from the CEAA and, ultimately, Prime Minister Justin Trudeau's federal government.
The 900-kilometre Prince Rupert Gas Transmission would begin in Hudson's Hope and deliver gas to the proposed Pacific NorthWest LNG project in Prince Rupert. A pipeline worker camp that at its peak would house 1,000 workers has the go-ahead from the Peace River Regional District.
The camp, which would be built near Chetwynd in the Pine Pass, would serve as home base for workers building part of TransCanada's 900-kilometre Prince Rupert Gas Transmission project. The camp would be the largest of nine proposed along the pipeline route, ranging in size from 150 to 1000 people.
Pacific NorthWest LNG will submit new reports to the CEEA by mid-May in an effort to address lingering concerns about its plans to export LNG.
The consortium is seeking to push the project across the finish line after a series of delays that arose mostly because of requests from the agency for greater detail. The upcoming filings are significant because they are seen as the final chapters to Pacific NorthWest LNG's submissions aimed at winning regulatory approval.
Early work for the pipeline serving the Pacific NorthWest LNG terminal could start as early as this fall if the proposal gets the green light.
The Nisga'a Nation received a project update from the vice president of TransCanada's Prince Rupert Gas Transmission project Tuesday.
John Dunn told the Nisga'a Special Assembly that line clearing court start in summer, 2017 with jobs and associated opportunities providing benefits to the Nisga'a for 4-5 years. For now, he says contractors are continuing to perform geotechnical work for the pipeline which would carry gas across nearly 100 km of Nisga'a territory on its route to Prince Rupert.
TransCanada Corporation said on Thursday it has received the last two of ten pipeline and facilities permits required from the BC Oil and Gas Commission for the Coastal GasLink pipeline project.
The project now has approval for construction and operation of the proposed pipeline and related facilities, according to TransCanada. "This is a significant regulatory milestone for our project, which is a key component of TransCanada's growth plan that includes more than $13 billion in proposed natural gas pipeline projects which support the emerging liquefied natural gas industry on the British Columbia Coast," said Russ Girling, TransCanada's president and chief executive officer.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.
James H. Place,
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