US-based Buckeye Partners looks to resurrect a stalled liquefied natural gas export project in Eastern Canada as demand for LNG continues to increase and experts forecast a significant LNG supply shortage.

Buckeye said it is purchasing Bear Head Energy, which owns a clean energy development scheme — the Bear Head Project — located on Point Tupper, Nova Scotia.

“This acquisition demonstrates Buckeye’s focus on being an integral part of the next phase of the global energy evolution,” said chief executive Todd Russo.