RE:News(3/13/2014 3:25:30 PM)
News
CALGARY — AltaGas Ltd. could step in to help salvage a proposed natural gas-export terminal planned for Canada’s West Coast as the project’s Texas-based owners seek to rescue the development from insolvency
A preliminary agreement being negotiated could see Calgary-based AltaGas head up a West Coast project with Antwerp, Belgium-based Exmar NV and EDF Trading Ltd., a gas marketer. The Haisla First Nation, a joint partner in the Douglas Channel scheme, would develop a separate project with Golar LNG Ltd., a Bermuda-based shipper of the fuel, according to the documents filed last month with the Supreme Court of British Columbia.
The latest word on this is that it is still before the courts.
CALGARY—AltaGas Ltd. said water is flowing at its new 195-megawatt hydroelectric facility in northern British Columbia and its now waiting on the completion of a $750-million transmission line to start generating power.
According to the Calgary-based company, it is in the final phases of commissioning its Forrest Kerr run-of-river hydroelectric facility, located about 1,000 kilometres north of Vancouver.
“We are very close to starting up our Forrest Kerr facility and providing clean energy to the B.C. electricity grid,” AltaGas chairman and CEO David Cornhill said in a statement.
“The contribution from our dedicated staff, the Tahltan First Nation and our contractors during the past four years of construction has been nothing short of phenomenal.”
The company said power will begin to flow into the grid with the completion of the Northwest Transmission Line (NTL), a 344-kilometre, 287-kilovolt project scheduled to be completed by the end of May.
The $725-million Forrest Kerr facility is expected to start generating power in mid-2014, and will deliver enough electricty to power 70,000 B.C. homes.