Australia-based LNG Ltd. purchased the Bear Head LNG export facility from U.S.-based Anadarko Petroleum Corp. for $11 million, LNG said.
Bear Head is a 255-acre site comprised of industrial-zoned land and deepwater acreage in Nova Scotia, Canada.
There are foundations in place for two 180 Mcm (6.4 MMcf) LNG tanks.
LNG plans to turn Bear Head into a 4 million tonnes per annum LNG export facility with potential for future expansion.
The land at Bear Head has already been cleared and the majority of site works and roads are complete.
LNG also has the project rights for a proposed LNG import terminal.
Gas supply and transportation plans have been developed and several parties have expressed interest in entering a tolling agreement, LNG said.
LNG plans to build a pipeline off the Maritimes & Northeast Pipeline to deliver gas from Goldboro, Nova Scotia to Bear Head.
The project is expected to generate about 45 to 70 permanent direct jobs, 175 permanent indirect jobs and 600 to 700 construction jobs, LNG said.
“This is a great step toward making Nova Scotia an LNG export destination and represents a tremendous opportunity for rural economic development,” Canadian Energy Minister Andrew Younger said.
The transaction is expected to close by Aug. 31, 2014.