Quebec government gives $800M Becancour LNG plant regulatory nod
Project to produce 500,000 tons of LNG for parts of Quebec not connected to existing traditional gas network
MONTREAL—The Quebec government has approved an approximately $800 million LNG plant to be built in the city of Becancour, situated between Montreal and Quebec City. The plant will be built by Stolt LNGaz Inc., a Quebec venture partnered with Stolt-Nielsen Gas, SunLNG and LNGaz.
“With the Bécancour project, Quebec will become the global model for the production and distribution of LNG on a regional scale,” Rodney Semotiuk, CEO of Stolt LNGaz, said.
The project aims to produce 500,000 tons of liquefied natural gas at its future Bécancour plant and to distribute the LNG to Quebec businesses not connected to the existing natural gas distribution network.
“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 emission reduction objectives,” Stolt said.
The company also announced the signing of two major partnership agreements with Petro-Nav, a subsidiary of Groupe Desgagnés specializing in the maritime transport of bulk liquids, and Servitank, a subsidiary of Groupe Somavrac and the Quebec leader in the warehousing and delivery of bulk products and hazardous materials.
The Stolt LNGaz project is valued at approximately $800 million and will create numerous construction-related and permanent jobs.