By OGJ editors
HOUSTON, Sept. 22 -- ConocoPhillips and TransCanada Corp. Sept. 18 reported the formation of "Fairwinds," a joint venture that will evaluate a site in Harpswell, Me., about 15 miles northeast of Portland, for the development of an LNG regasification facility.
The Fairwinds JV are in the process of asking Harpswell residents to vote on leasing of the site, which is owned by the town.
Construction of the facility could begin as soon as 2006, the companies said, if leasing is approved by Harpswell residents and the necessary regulatory approvals are subsequently received. Given this scenario, full operation of the plant is anticipated in 2009.
Natural gas from the facility would be delivered through a pipeline, yet to be built, that would connect with an existing pipeline in Maine, TransCanada said.
"Alternative supplies including Northern gas and LNG imports are going to be needed by the market and we expect to play a role in fulfilling [gas demand in North America]," said Hal Kvisle, CEO of TransCanada.