By OGJ editors
HOUSTON, Sept. 8 -- TransCanada Corp. and Petro-Canada have signed a memorandum of understanding to jointly develop an LNG terminal, "Cacouna Energy," adjacent to the existing harbor at Gros Cacouna, Quebecabout 15 km northeast of Rivière-du-Loup. The proposed facility would be capable of receiving, storing, and regasifying imported LNG, with an average send-out capacity of 500 MMcfd/year of natural gas.
The partners will share the $660 million construction costs equally, and TransCanada will operate the facility while Petro-Canada will supply the LNG.
Pending regulatory approvalsexpected to take 2 yearsthe facility could be in service by yearend 2010.