Stolt-Nielsen JV to Bring Small-Scale LNG to Eastern Canada
In support of mining and other industries in northeast Canada, Stolt-Nielsen Gas Ltd (SNG) has joined forces with SunLNG Holding and LNGaz in a new joint venture named Stolt LNGaz which is focused on developing a small scale LNG liquefaction and logistics services firm in Bécancour, Québec.
SNG’s plan is to liquefy pipeline gas terminating in southeastern Canada and then transport the product via small LNG ships and trucks to customers in northeast Canada. Surplus LNG will be exported to customers in northern Europe.
The liquefaction plant will consist of two units including a storage unit with capacity for 50,000 m3 of LNG.
Contributing an initial investment of USD $20 million, SNG will own 50 percent of the venture. Stolt LNGaz expects the total capital investment to be approximately USD $570 million over the next four years in infrastructure and services development, partly funded with debt financing secured by long-term customer contracts.
The following is the tentative project schedule:
- March to October 2014: Consultations with the community and environmental impact study
- Fall 2014: Notice of Admissibility issued by the Quebec government
- Winter 2015: Public hearings conducted by the BAPE (if requested)
- Summer 2015 to 2017: Construction of the plant and its equipment
- Fall 2017: Start-up of plant operations
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