Fairwinds Studying Site in Maine for New LNG Receiving Terminal

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Fairwinds (Harpswell, Maine), a joint venture of ConocoPhillips (NYSE:CoP) (Houston Texas) and TransCanada Corporation (TSX:TRP) (Calgary Alberta), is planning to construct a new LNG receiving and re-gasification terminal (PEC 37000348) to serve New England. Fairwinds is awaiting a vote to be taken by the population of Harpswell in March of 2004 for permission to lease a site owned by the town, located approximately 15 miles northeast of Portland. The site is an abandoned 118-acre U.S. Navy facility. If the town approves leasing of the site and the necessary regulatory approvals are received, then construction on the LNG terminal could begin as early as 2006 with full commercial operation commencing in 2009.

The $300-375 million facility would have an initial phase I capacity of 500 mmscfd of natural gas output and could eventually accommodate 1 Bcf/d. Most of the take away capacity would most likely be contracted by Maritimes & Northwest Pipeline, which has been seeking gas supplies for its long delayed Phase IV expansion that entails four new compressor stations and 31-Miles of 36" diameter transmission pipeline.

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