Stolt LNGaz receives approval from Quebec government for new LNG plant
Source: Stolt LNGaz
The Quebec government yesterday approved the Stolt LNGaz natural gas liquefaction plant in Becancour, Quebec. The LNG project will produce 500,000 tons of LNG to be distributed to customers in Quebec that are not currently serviced by natural gas pipelines. The Stolt LNGaz project is valued at approximately C$800 million (approximately US$600 million), according to the company press release.
The plant will consist of two liquefaction units, a storage unit with capacity for 50,000 cubic meters of LNG and facilities to load the LNG onto ships. According to the company’s website, the project should generate more than 250 jobs in Becancour during construction and an additional 50 direct jobs once the plant begins operations.
During the press conference, which was attended by Quebec Premier Philippe Couilard and Quebec Minister of Energy and natural resources Pierre Arcand, Stolt LNGaz also announced partnerships with two partners as well. The company will be working with Petro-Nav, which specializes in the maritime transport of bulk liquids, and Servitank, a company specialized in the warehousing and delivery of bulk products and hazardous materials.
“Beginning in 2018, the Stolt LNGaz project will provide a safe, reliable access to large quantities of LNG. This will enable all businesses not served by the traditional natural gas grid to be more competitive and cost-effective while significantly improving their environmental performance, thus helping to meet the Quebec government’s greenhouse gas emissions reduction objectives,” the company said in its press release.
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.