Triton LNG LP
The Triton LNG Limited Partnership (Triton LNG LP) is a proposed LNG plant/pipeline designed to help get Canadian natural gas to Asian markets. The proposed plant would be located in Kitimat with a focus on securing long term contracts with Asian buyers. As of April 17, 2014, Triton has secured a 25-year licence to export 2.3 million tonnes of LNG a year.
About This Project
The Triton LNG proposal was announced in October 29, 2013 and would include a floating liquefaction storage and off-loading (FLSO) vessel in one of two possible sites, Prince Rupert or Kitimat, and will include shore side support facilities with an in-service date of 2017.
AtlaGas Pacific Partnership, a subsidiary of AltaGas Ltd. (TSX:ALA), is an energy infrastructure business with a focus on natural gas, power and regulated utilities with an enterprise value of approximately $7.5 billion.
Idemitsu Canada Corporation is a subsidiary of Idemitsu Kosan Co., Ltd. (TSE:5019). Idemitsu is Japan's second largest petroleum company with consolidated net sales (2012) of approximately $47 billion. Its primary businesses include refining, manufacturing and sale of petroleum, lubricants and petrochemical products.
The project is designed to allow Canadian natural gas to reach Asian markets. Triton LNG LP has signed a 20-year transportation reservation agreement with Pacific Northern Gas (PNG) for 325 Mmcf/day of natural gas transportation capacity related to the PNG expansion. The B.C. Environmental Assessment Office has issued an order accepting PNG's expansion project into the environmental assessment process. Triton LNG LP is now in discussions with supply and market participants to develop commercial supply and off take agreements. Triton LNG LP is currently developing the project feasibility study, which is expected to be completed in 2014. Subject to the completion of the feasibility study, consultations with First Nations, permitting, regulatory approvals and facility construction, the proposed LNG exports could begin as early as 2017. It is anticipated that the FLSO vessel will have an annual production capacity of approximately 2.3 million tons per annum of LNG and will require approximately 9,210 103m3/day (325 Mmcf/day) of feed gas, inclusive of process fuel. The LNG production will be off-loaded from the FLSO vessel through a loading arm to LNG carriers for transport to export markets. The project will require shore side facilities including, power supply, condensate storage, water supply, cooling water system, feed gas pipeline, metering, and support buildings.