JX ENERGY (03395): The 9.6 megawatt natural gas power generation project has received regulatory approval and the board of directors has approved the construction of a new 75,000 tons per year liquefied natural gas project.

JX ENERGY (03395) announced that the board of directors held a meeting on January 12, 2026 (Calgary time) to update the progress of the 9.6 megawatt power project and discuss the feasibility of a new liquefied natural gas project proposed by the company's management team. The company is pleased to announce that on January 6, 2026, the natural gas power project received the primary regulatory approval from the Alberta Environment and Parks Environmental Protection and Enforcement Agency (EPEA), but EPEA adjusted the applied 9.6 megawatt power to 9.5 megawatts. The board of directors further approved the development of a liquefied natural gas project with an annual production capacity of 75,000 tons (tons/year). Upon completion of the project, the company will be able to utilize its own natural gas production and existing pipeline gathering system to produce liquefied natural gas for replacing diesel fuel in the local market, including in drilling and completion operations, truck fleets, and diesel power generation. This move is expected to enhance the value of the company's natural gas production capacity and further diversify its business portfolio. The company noted that the local liquefied natural gas market potential is expected to develop steadily, supported by the growing demand for reliable and cost-effective alternative fuels. The regulatory application process for the liquefied natural gas project has commenced, and the project budget and milestone schedule will be announced when ready. If the company fails to obtain all necessary approvals from relevant government agencies, the 9.5 megawatt natural gas power project and the liquefied natural gas project will not proceed. Shareholders and potential investors are advised to exercise caution when trading the company's securities.