The Board of Directors of JX ENERGY (03395) convened a meeting on January 12, 2026 (Calgary time), during which they updated the progress of the 9.6 MW power project and deliberated on the feasibility of a new liquefied natural gas (LNG) project proposed by the company's management team. The company is pleased to announce that on January 6, 2026, it received the primary regulatory approval from Alberta Environment and Protected Areas (EPEA) for its natural gas power generation project, although EPEA adjusted the applied 9.6 MW generation capacity to 9.5 MW. The Board of Directors has further approved the development of a liquefied natural gas project with an annual production capacity of 75 kilotonnes per year (ktpa). Upon completion, this project will enable the company to utilize its own natural gas production and existing pipeline gathering system to produce LNG, intended as a substitute for diesel fuel in local markets, including applications such as drilling and well completion operations, truck fleets, and diesel power generation. This initiative is expected to enhance the value of the company's natural gas production capacity and further diversify its business portfolio. The company indicated that the local LNG market potential is poised for robust development, supported by continuously growing demand for a reliable and cost-effective alternative fuel. The regulatory application process for the LNG project has been initiated, and the project budget and milestone schedule will be announced once they are finalized. Should the company fail to obtain all necessary approvals from the relevant government agencies, neither the 9.5 MW natural gas power project nor the LNG project will proceed. Shareholders and potential investors are advised to exercise caution when dealing in the company's securities.
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