The initial phase of construction for
the Canaport LNG project begins this week at Irving Canaport. Clearing of the
site was completed in May 2005. The initial construction phase involves site
excavation and leveling, and is the precursor to full-scale construction.
Front end engineering design for the project is now complete, and
Canaport LNG issued a request for proposals for engineering, procurement and
construction (EPC) earlier this summer. Onshore construction is scheduled to
begin in Spring 2006.
Irving Oil Limited and Repsol YPF, S.A. announced in June that they had
formed a new partnership, Canaport LNG, which will construct, own and operate
the LNG regassification terminal in Saint John. The Canaport LNG terminal will
be operational in 2008, initially delivering 1 billion cubic feet per day of
regassified LNG into the market.