AltaGas on track to build LNG terminal by 2018, CEO says

AltaGas says it is on track to build a liquefied natural gas plant in British Columbia by 2018.

The Canadian Press is reporting this morning comments made by AltaGas CEO refuting a recent International Energy Agency report saying LNG will be a slow industry to take off, with no facility built in the country by 2020.

“We think we’ll prove them wrong in this decade,” David Cornhill told the Canadian Press in an interview.

“We have nothing that we see at this point that will stop us,” Cornhill continued. “It is a lot of work, there are some tight timelines, so it’s not a walk in the park, but clearly we think it’s achievable.”

AltaGas has yet to make a final investment decision for the Douglas Channel LNG terminal, but the report says the company does plan to make a decision by the end of 2015.

The terminal would process and ship about 550,000 tonnes of LNG per year. The terminal would be housed on a floating barge, according to the report, and use an existing pipeline in Kitimat as its source of gas.

Read the full article in the Vancouver Sun here.

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