CBC News (Canada): TransCanada and Shell plan US$700M LNG terminal in NY Long Island Sound: “Catherine Tanna, Shell Gas & Power's director for the Americas and Africa, said energy demand in North America is expected to increase substantially "and Shell believes LNG is an efficient, reliable and clean way to meet this demand." (ShellNews.net) Posted 10 Nov 04
CALGARY (CP) - TransCanada Corp. and Shell US Gas & Power plan to build a $700-million-US liquefied natural gas (LNG) regasification terminal in the waters of New York state's Long Island Sound.
The terminal, named Broadwater Energy, would store and regasify imported LNG with an average send-out capacity of one billion cubic feet a day of natural gas. "New York and Connecticut are regions specifically identified as needing additional energy supplies," TransCanada CEO Hal Kvisle said Tuesday in a release.
"TransCanada is in the business of connecting gas supply to markets and the Broadwater Energy proposal is a demonstration of this commitment to delivering this safe, clean, reliable energy source for the future."
Catherine Tanna, Shell Gas & Power's director for the Americas and Africa, said energy demand in North America is expected to increase substantially "and Shell believes LNG is an efficient, reliable and clean way to meet this demand."
TransCanada and Shell propose to build and install a floating storage and regasification unit that will receive, store and regasify LNG about 15 kilometres off the Long Island coast and 18 kilometres off the Connecticut coast.
Broadwater Energy LLC would operate the plant, while Shell would own the capacity and supply the LNG.
The project will need regulatory approvals from federal and state governments over the next two to three years. TransCanada and Shell have filed a request with the Federal Energy Regulatory Commission for a six-to nine-month public review of the Broadwater proposal.
"Provided the necessary approvals are received, it is expected the facility will be in service in late 2010," the companies said.
TransCanada (TSX:TRP) is focused on natural gas transmission and power services. Its network of about 41,000 kilometres of pipeline transports most of Western Canada's natural gas production to the fastest-growing markets in Canada and the United States.
http://www.cbc.ca/cp/business/041109/b110952.html