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|July 31st, 2007, 10:43 PM||#1|
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$2 billion liquid natural gas terminal proposed | News
$2 billion project
Texada Island proposed for new liquid natural gas terminal
Scott Simpson, Vancouver Sun
Published: Tuesday, July 31, 2007
Texada Island was proposed today as the site of an ambitious $2 billion energy project incorporating an import terminal for liquid natural gas and a 600-megawatt electricity generating station.
WestPac LNG Corporation made the announcement in Vancouver, saying the project would meet future energy needs of residents of coastal B.C. communities as well as Vancouver Island residents.
The LNG (liquid natural gas) facility would be one of the first of its kind on the western coast of North America, serving as a receiving terminal for ships bringing in gas from other nations, possibly including Russia and Saudi Arabia.
The facility would be served by one ship coming in about every 10 days.
The gas-fired thermal generating station would be located alongside the LNG terminal and would be fed by the imported gas.
WestPac president Mark Butler said there would be enough surplus gas to help supply Terasen's Vancouver Island natural gas pipeline, which already runs down Texada.
Butler said it would be relatively easy for WestPac to link onto the British Columbia electricity grid - there is a BC Transmission Corporation 500 kilovolt transmission line already strung across Texada, connecting Vancouver Island to the B.C. mainland.
It will take at least two years to complete the project, Butler said.
It will require federal and provincial environmental approvals, approval from the B.C. Utilities Commission, a power sales contract with Hydro and a partnership with Terasen - as well as community support in Texada and Powell River, the latter of which serves as the seat of local government for the Sunshine Coast Island.
The company also announced it is shelving its plan for a stand-alone LNG terminal at Ridley Terminal in Prince Rupert, saying the cost of the project had risen from $300 million three years ago to more than $1 billion, and that it would now focus exclusively on the Texada project.
© Vancouver Sun
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