"With both provincial and federal environmental approvals in place, the MapleLNG project can now file a request with the province's Utility and Review Board for a Permit to Construct. The permit is expected to be issued during the second quarter of 2008," said Derek Owen, General Manager, MapleLNG.

The CSR was reviewed by the federal departments of Fisheries and Oceans, and Transportation as part of the CEAA process prior to the approval. A mandatory month-long public review process ended November 14, 2007 and provided an opportunity for interested stakeholders to review and comment on the CSR.

The project was subject to a full provincial environmental assessment (EA) including a six-day public hearing process, held in November 2006. In March, 2007 MapleLNG received environmental approval from the province of Nova Scotia for a liquefied natural gas (LNG) importation and regasification facility and is currently addressing specific environmental conditions attached to this approval. The company will satisfy the approval conditions and recommendations during the first quarter of 2008.

"The Nova Scotia project is one of five terminals that 4Gas, MapleLNG's majority shareholder, is developing to create a strong international presence with a global reach into continental Europe and North America," said Owen. "As operator of this regasification terminal we have the ability to market both upstream and downstream, a strategic advantage in the international LNG marketplace where suppliers seek access to multiple markets including the premium value natural gas markets afforded in the United States and in Canada."

MapleLNG will construct and operate the LNG importation and regasification facility. The MapleLNG terminal will be located adjacent to the Maritimes and Northeast Pipeline intake station at the Sable Offshore Energy Gas Plant in Goldboro. Its location will enable MapleLNG to serve the substantial Canadian and U.S. natural gas markets beginning 2011 through a pipeline transmission system that transports natural gas from Nova Scotia to markets in Canada and the North Eastern United States. MapleLNG are investigating several other options to add further opportunities for transportation of gas from the terminal to market.

MapleLNG is a Nova Scotia company and the Canadian subsidiary of 4Gas and Suntera. 4Gas is an independent company located in Rotterdam, solely dedicated to developing and operating liquefied natural gas import terminals around the world. Besides the MapleLNG project, 4Gas' projects include the Dragon LNG terminal in Milford Haven, Wales; the LionGas project in Rotterdam, The Netherlands; the Pegaz LNG project near Bordeaux, France; and the Vista del Sol project near Corpus Christi, Texas, USA. Suntera is an international energy company with oil and gas assets in West Africa, North America and India. In March 2006, 4Gas and Suntera Canada Ltd. purchased the MapleLNG project.

Project Background

Provincial and federal environmental approvals have been received for a liquefied natural gas importation and regasification facility in Goldboro, Nova Scotia.

The LNG importation and regasification facility at Goldboro:

- Marine facilities to accommodate LNG carriers up to 250,000 cubic meters
- Initially, three LNG storage tanks of 160,000 cubic meters, expandable to six tanks
- Regasification facilities
- The ability to transmit one billion cubic feet of natural gas per day, expandable to two billion cubic feet of natural gas per day
- MapleLNG will construct and operate the LNG importation and regasification facility with a scheduled start of production in 2011
- MapleLNG will serve the Canadian and North Eastern United States natural gas markets through its terminal strategically located adjacent to a pipeline transmission system that transports natural gas from Nova Scotia to markets in Canada and the United States
- Goldboro is the closest point in North America for LNG delivery from the vast majority of LNG supplies- this demonstrates the value of the Goldboro location in the international arbitrage of LNG
- The MapleLNG project positions Nova Scotia to have a continuing supply of natural gas for markets in Canada and the U.S.
- Creates a new industry for Nova Scotia

4Gas is dedicated to developing and operating LNG import regasification and storage terminals around the world. It is the world's only independent company with a focus on LNG and a global footprint.

Current projects include Dragon LNG in Milford Haven, Wales; the LionGas project in Rotterdam, The Netherlands; the Pegaz LNG project near Bordeaux, France; the MapleLNG project in Nova Scotia, Canada; and the Vista del Sol project near Corpus Christi, Texas, USA. 4Gas has offices in Rotterdam (HQ), London, Houston, Halifax, Paris, Jakarta, Bordeaux, Moscow, Islamabad, Abuja and Hong Kong.

Suntera is a joint venture between SUN Energy, the energy investment arm of the SUN Group, a private investment group active in Russia, India, Europe and the U.S.; and ITERA, one of the largest oil and gas companies of Russia.

Suntera is a fast growing integrated energy company, having a strong management team. In a very short time span, Suntera has acquired oil and gas assets in West Africa, North America and India.