By OGJ editors
HOUSTON, June 7 -- Irving Oil Ltd., Saint John, NB, and Repsol YPF SA finalized agreements to develop an LNG receiving terminal in Saint John. The agreements form Canaport LNG, which will construct, own, and operate the terminal (OGJ Online, Sept. 24, 2004).
Irving operates a deepwater petroleum terminal, Irving Canaport, at the LNG terminal site 65 miles from the US border. The LNG terminal will have three 160,000 cu m LNG tanks and throughput capacity of 1 bcfd.
Repsol will provide all the LNG. Irving Oil will handle gas marketing in Atlantic Canada, and Repsol will handle gas marketing elsewhere in Canada and in the US.
The partners plan to request proposals for engineering, procurement, and construction contracts in July. The terminal is expected to be operational in 2008.
