Quebec Government Approves the Stolt LNGaz LNG Plant Development

Source: 8/25/2015, Location: North America

The Stolt LNGaz project aims to produce 500,000 tons of liquefied natural gas (LNG) at its future Bécancour plant and to distribute the LNG, primarily via LNG tankers, to Quebec businesses not connected to the existing natural gas distribution network.

"With the Bécancour project, Quebec will become the global model for the production and distribution of LNG on a regional scale," affirmed Mr Rodney Semotiuk, Chief Executive Officer of Stolt LNGaz. Mr. Semotiuk acknowledged the support that the Quebec government, the Bécancour community and the Waban-Aki community have shown the project.

Mr Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, principal shareholder of Stolt LNGaz of Bécancour, was also present at this press conference held by the Quebec government and attended by Premier Philippe Couillard; Pierre Arcand, Minister of Energy and Natural Resources; Laurent Lessard, Minister of Forests, Wildlife and Parks; David Heurtel, Minister of Sustainable Development, Environment and the Fight against Climate Change; and Jean D'Amour, Minister of Transport and the Implementation of the Maritime Strategy.

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 LNGaz also announced the signing of major partnership agreements with two large Quebec companies, 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 two new partners of Stolt LNGaz, who attended the press conference as well, outlined their respective partnerships.

Louis-Marie Beaulieu, President and Chief Executive Officer of Groupe Desgagnés, stated: "We are pleased to announce this partnership between our subsidiary Petro-Nav and Stolt-Nielsen, which will see us become the co-owners and operators of the tanker ships that will serve Stolt LNGaz customers on the North Shore and possibly even customers on other Canadian coasts. I am also proud that our partnership will create some 100 new jobs aboard these tankers."

Marc Paquin, President of Groupe Somavrac, described the partnership between Stolt LNGaz and the subsidiary Servitank as follows: "Servitank is a natural partner for the safe transportation of LNG by road tankers from Stolt's regional terminals to its clients' facilities. We estimate that these additional deliveries will create some 40 new permanent jobs."

Mentioning that the Stolt LNGaz project was valued at more than US$600 million (approximately CAN$800 million), Mr Rodney Semotiuk, Chief Executive Officer of Stolt LNGaz, concluded: "We are proud to be Quebec's first LNG liquefaction and distribution project to have conducted an in-depth impact study and ongoing consultations with the citizens and leaders of the Bécancour region, and to have received an overall favourable report from the Bureau d'audiences publiques sur l'environnement (BAPE) of Quebec."

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