Progress-Petronas LNG export plant on British Columbia coast enters design phase
SAN FRANCISCO -- Progress Energy Resources and Petronas have announced that their LNG export plant, on the coast of British Columbia, has entered the design phase.
The Pacific Northwest LNG facility will be designed to export about 3.8 million short tons per year. In an effort to win Ottowa's approval of Petronas bid for Progress Energy, the companies said the facility would export 6 million short tons if the deal goes through. The $6 billion deal was halted earlier this year pending further studies.
A LNG facility in BC, Kitimat LNG, is the preparation phase of its development, leading to construction, according to a trade association. In the United State's East Coast, the Cheniere,Sabine Pass export facility is under construction and will be the first LNG export facility in North America.
Canada's natural gas industry hopes to use LNG to export natural gas to Asia, where supplies are tighter and natural gas fetches higher prices.
Dow Jones Newswires