Merrill Lynch Commodities, Teekay Corp. Announce Plans to Develop Floating Liquefaction Project in Kitimat, B.C.
Merrill Lynch Commodities, Inc. and Teekay Corp. announced yesterday that the companies plan to develop a floating LNG liquefaction facility in Kitimat, British Columbia. According to the media release, the project would include a modified LNG carrier, the Arctic Spirit, that would be moored alongside a pier and have the capacity to liquefy 75-100 Mmcf/d. The project is scheduled to be operational in 2012.