Canada project promises fast LNG delivery to Asia

A new investment of 40 billion Canadian dollars (about 31 billion US dollars) by LNG Canada promises liquefied natural gas delivery to Asian markets in only eight days, announced the firm on Tuesday.



The time is dramatically short compared with 20 days from facilities in the southern United States.



The LNG plant is planned for Kitimat on British Colombia's coast, said LNG Canada CEO Andy Calitz. The facility will have the capacity to export as much as 26 million metric tons of liquefied natural gas per year.



LNG Canada is a joint venture of five partners -- Royal Dutch Shell Plc, PetroChina Co. Ltd, the Malaysian-owned Petronas, Mitsubishi Corp and Korea Gas Corp.



The first liquefied natural gas is expected to be shipped before the middle of the next decade.



It is estimated that the project will generate 22 billion Canadian dollars (about 17 billion dollars) in direct government revenue over the next 40 years and is expected to employ as many as 10,000 people during construction and create up to 950 full-time jobs.

