Canaport LNG terminal flare

Saint John's Canaport LNG terminal can send out a maximum 1.2 billion cubic feet (BCF) of natural gas per day. (CBC)

The Nova Scotia Utility and Review Board has approved the transfer of a permit to construct a liquefied natural gas plant at Bear Head, near Point Tupper.

Mayflower LNG PTY Ltd. is taking over from Anadarko Global Holdings Company. The permit allowed the company to pour concrete for the storage tank foundations.

Mayflower is a subsidiary of Liquefied Natural Gas Ltd., which announced last month that it was buying the Bear Head site for $11 million. That deal is expected to close by Aug. 31.

The review board said Mayflower must prove it has $20-million in liability insurance by Sept. 30, or earlier if construction starts before then.