US$4.5 bln petrochemical plant and LNG terminal at Goldboro to commence construction in 2008

21-Sep-07
Keltic Petrochemicals Inc. and MapleLNG's US$4.5 bln petrochemical plant and LNG terminal at Goldboro plan to commence project construction in spring 2008 - after clearing more regulatory hurdles. The two principals have reported completion of approx US$2 million worth of additional engineering and environmental work, as per federal regulation requirements. The partners have indicated it will take about three years after ground is broken to build an LNG terminal, storage facility, de-methanizing units, power generators and related utility and offsite infrastructure and systems. By such time, feedstock supply should not pose a problem. A gas supply is critical for the success of both components of the Goldboro project, including Maple's US$500 mln LNG terminal and the US$4 bln plastics plant proposed by Keltic.
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