Indian company outlines $3B LNG terminal in Guysborough
H-Energy stresses natural gas terminal in its early stages
A company based out of India is outlining plans to build a $3-billion liquefied natural gas (LNG) terminal in the Strait of Canso.
Darshan Hiranandani, managing director for H-Energy, met with reporters Wednesday to talk about his company’s plans.
"We’re looking at a long term … facility to liquefy natural gas. We’re looking to put out a capacity of a billion and a half cubic feet a day at its final stage," he said.
Hiranandani said the company would be looking at a facility on the scale of the Canaport facility in New Brunswick.
The Indian energy conglomerate has executed an option for 240 hectares of land at the Melford Industrial Park in Guysborough County.
The site’s deep water port and proximity to an existing natural gas pipeline — which would need to be expanded — make the spot ideal for this type of operation.
This is the second proposal for an LNG export plant in this province.
Pieridae Energy announced last October its plans to open a $5-billion project, saying the facility would be built in Goldboro, close to the overseas markets and adjacent to the Maritimes and Northeast Pipeline.
Stephen Lund, CEO of Nova Scotia business Inc. — an government agency that tries to attract companies to the province, said there is a market around the world for abundant, North American natural gas.
"There will be facilities built in North America, I don't think anyone would dispute that, the question is where they are going to be. Why not Nova Scotia?" he said.
H-Energy is in the process of constructing an LNG import terminal in India. Hiranandani said his company has no gas supplier but said there is ample supply.
Hiranandani stresses this project is in its earliest stages. The next step is a feasibility study. The best scenario would see construction completed by 2020.
With files from Paul Withers