Kitimat LNG To Purchase Eurocan Industrial Site

abarrelfullabarrelfull wrote on 15 Jul 2011 05:23
Tags: canada lng

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KM LNG Operating General Partnership (Kitimat LNG) today announced that it has entered into an agreement to purchase the former Eurocan industrial site in Kitimat, B.C. from West Fraser. The sale is subject to obtaining government approvals for the transfer of related permits and licenses. Financial details of the transaction have not been disclosed.

“The Kitimat LNG partners are very pleased we have reached this agreement with West Fraser,” said KM LNG President Janine McArdle. “The purchase of the site marks another significant local investment in Kitimat and is a great step forward for the Kitimat LNG project.”

The site provides the Kitimat LNG project with a suitable area for a work camp, lay-down and storage area as the project continues to move forward with clearing and grading at the LNG export facility site.

The Kitimat LNG export facility is planned to be built on First Nations land under a unique partnership with the Haisla First Nation.

Kitimat LNG partners Apache Canada Ltd., EOG Resources Canada Inc. and Encana Corporation are currently in marketing discussions with potential Asia-Pacific LNG customers.

The partners expect to have firm sales commitments in place by the time a final investment decision is made. Initial shipments of LNG are expected to begin by the end of 2015.

KM LNG Operating General Partnership currently has an application for a 20-year export licence before Canada’s National Energy Board.

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