LNG Canada Development Inc.’s application for a 40-year natural gas export license with a maximum term quantity of 1,494 billion cubic meters was approved by the National Energy Board, the board said Jan. 7.

This is the first 40-year natural gas export license approved by the NEB since the National Energy Board Act, and corresponding regulations, were amended in June 2015. Previously, the maximum term length was 25 years.

The NEB determined that the quantity of natural gas LNG Canada would export will be surplus to Canadian needs, and said that the country’s gas resource base--and the overall North American gas resource base—would be large enough to accommodate reasonably foreseeable Canadian demand. This demand includes LNG Canada’s proposal.

The approved export point is at the outlet of the loading arm of the natural gas liquefaction terminal that will be built near Kitimat, British Columbia.

The license’s issuance is subject to the Governor in Council’s approval.