NATIONAL ENERGY BOARD OF CANADA APPROVES WESPAC MIDSTREAM

LNG EXPORT LICENSE

May 12, 2015

Irvine, CA, U.S.A.: On May 7, 2015, WesPac Midstream – Vancouver LLC (“WesPac”) received notification from Canada’s National Energy Board (“NEB”) of its decision to grant WesPac a license to export natural gas from Canada.  WesPac submitted an application in June 2014.  The license is for a maximum annual volume of 4.76 billion cubic meters of natural gas (equivalent to approximately 3.5 million tonnes of LNG per annum), and is for a term of 25 years.  The NEB decision is subject to the approval of the Governor in Council.

A link to the NEB’s announcement about the license decision is found here:

http://news.gc.ca/web/article-en.do?mthd=tp&crtr.page=1&nid=972719&crtr.tp1D=1

WesPac’s export of natural gas will be in conjunction with the WesPac Tilbury LNG Marine Jetty Project currently under development.  WesPac’s jetty will be adjacent to the FortisBC Tilbury LNG Plant in Delta, B.C. and will be designed to load LNG cargo into customers’ small and medium-sized LNG carriers as well as LNG barges, one vessel at a time.

WesPac submitted its Project Description to initiate the environmental assessment process in April of this year.  It was submitted to both the British Columbia Environmental Assessment Office (BCEAO) and the Canadian Environmental Assessment Agency (CEAA).  The anticipated start of operations for the jetty project is the first quarter of 2018.