The National Energy Board of Canada has awarded natural gas import and export licenses to Pieridae Energy (Canada).

The 20-year licenses will allow Pieridae to import 11.845 billion cubic meters of natural gas from the US, and export around 16.67 billion cubic meters of LNG a year to Europe and other countries.

The natural gas from the US and Canadian sources will be processed to liquefied natural gas (LNG) at the proposed Goldboro terminal in Nova Scotia.

Pieridae president and CEO Alfred Sorensen said: "We will continue to work with the National Energy Board and project regulators as we advance this project.

"We’re also on track to complete our supply acquisition this year, and each step brings us closer to our final investment decision."

In May, the US Department of Energy has approved Pieridae Energy (USA) to export natural gas to Canada and other countries that have free trade agreements (FTA) with the US.

In 2013, Pieridae secured a contract to supply approximately five million metric tons per annum of LNG from the Goldboro facility.

The final investment decision for the Goldboro LNG project is planned to be made in 2016, Pieridae said.