NEB Seeking Input – NEB Act Amendment
The NEB released a letter to interested parties, announcing that the Economic Action Plan 2015 Act received Royal Assent on June 23, 2015, which amended the National Energy Board Act to allow for the issuance of natural gas export licences for a term not exceeding 40 years.
As a result, the NEB announced that it was seeking input from interested parties on proposed amendments to the National Energy Board Part VI (Oil and Gas Regulations) for a new category of licences permitting the export of natural gas for a term not exceeding 40 years, including among other things:
(a) The filing requirements for the new licence category; and
(b) The terms and conditions the NEB may impose on the new licence category.
The NEB noted that the proposed amendments would not affect the regulation of pre-existing licences for the exportation of gas, propane, butane, ethane, and oil for terms not exceeding 25 years. Nor would there be any change to regulations governing orders for the exportation of gas, ethane or heavy crude oil for a term not exceeding 2 years, or for orders for the exportation of propane, butanes or oil other than heavy crude oil for a term not exceeding 1 year.
