Steelhead, Seven Generations in LNG development agreement

9/19/2016

VANCOUVER, British Columbia -- A new development agreement between Steelhead LNG and Seven Generations Energy sets the stage for engaging Aboriginal groups and communities as the two companies explore the development of new midstream infrastructure to support Steelhead LNG's proposed natural gas liquefaction and export projects on Vancouver Island.

The arrangement, through which Seven Generations has also acquired a minority interest in Steelhead LNG, is expected to provide potential new markets for Seven Generations' production as well as increased certainty of natural gas supply for Steelhead LNG.

"This arrangement with Seven Generations creates an opportunity, in the current price environment, for a liquefied natural gas solution from well-head to customer that's uniquely led by Canadian companies," said Steelhead LNG CEO Nigel Kuzemko. "Our shared focus on engaging early and often with Aboriginal groups and communities, combined with our collective commitment to produce and deliver low-cost, low-emissions Canadian natural gas, positions each company to succeed in expanding Canada's exports of clean-burning natural gas to Asian markets."

"This export market development initiative aims to achieve long-term and sustainable success through the meaningful engagement of those who care about the environment, governments and regulators, communities, business partners and infrastructure customers, suppliers and service providers, employees and shareholders and capital providers," said Pat Carlson, Seven Generations' CEO.

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