HALIFAX, Nova Scotia (AP) – Regulators have approved a permit for construction of a $700 million liquefied natural gas terminal in Goldboro, Nova Scotia.

Maple LNG received its permit from the Nova Scotia Utility and Review Board, moving the project another step forward. It has already received environmental approvals from both the federal and provincial governments.

Derek Owen, general manager of Maple LNG, cautions that before any concrete is poured, the project still needs shareholder approval. Maple LNG is a consortium of 4Gas, a Rotterdam company developing LNG terminals globally, and Suntera.

Suntera is a joint venture between Sun Energy, the energy investment arm of private investment firm Sun Group, and Itera, one of Russia’s largest oil and gas companies.

LNG facilities have been proposed in New England states, including three in Maine.