TransCanada, Petro-Canada to develop LNG facility at Gros Cacouna, Quebec

Sept. 8, 2004
TransCanada Corp. and Petro-Canada have signed a memorandum of understanding to jointly develop "Cacouna Energy," an LNG receiving and storage terminal and regasification plant adjacent to the existing harbor at Gros Cacouna, Quebec—about 15 km northeast of Rivière-du-Loup. The proposed facility would have an average send-out capacity of 500 MMcfd/year of natural gas.

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, Quebec—about 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 approvals—expected to take 2 years—the facility could be in service by yearend 2010.