Irving Oil Ltd & Chevron Canada Resources are the latest players to announce their intentions to construct a liquefied natural gas (LNG) receiving and regasification terminal. The proposed terminal would be located at Irving Oil’s Canaport facility near Saint John, New Brunswick, Canada, and would have a capacity of over 750 million cubic feet per day of natural gas. The USD 350 million terminal would be jointly owned by the two parties and could come on-line in 2005. The terminal will unload natural gas in a liquid form, store it, and then convert it to a gaseous state for consumption in the region.
