Gaz Métro LNG issues a non-binding call for submissions for liquefied natural gas

Gaz Métro LNG, a subsidiary of Gaz Métro, is issuing a non-binding call for submissions for the purchase of liquefied natural gas (LNG).To evaluate market needs, Gaz’ Métro’ LNG is offering potential customers in’ Quebec’ and neighbouring regions the opportunity to make their needs for LNG known by responding to this non-binding call for submissions by’ January 31, 2014. To participate, interested parties can fill out the form athttp://gnl.gazmetro.com/Default.html.
Gaz Métro is the parent company of Vermont Gas Systems and Green Mountain Power in Vermont.
On’ February 4, 2013, Gaz Métro announced that it was considering different solutions to increase the availability of LNG in’ Quebec, including adding liquefaction capacity to its liquefaction, storage and regasification (LSR) plant located in’ Montreal.
This non-binding call for submissions will allow Gaz’ Métro to assess the feasibility of a project to expand the LSR plant. If the project goes forward, Gaz’ Métro’ LNG intends to negotiate LNG sales contracts with respondents.
"We have reached an important milestone in our strategy for developing this promising market. LNG is the best way to reduce greenhouse gases (GHG) emitted by heavy vehicles while lowering fuel costs. It is also a way to help industries located far from the gas network by offering fuel that is competitive and able to reduce their carbon footprint," stated’ Martin Imbleau, Vice President, Business Development and Renewable Energy at Gaz Métro.
Summary of conditions
LNG sales contracts will be for a duration of 10 years. The price of LNG, in Canadian dollars, is based on the price Gaz Métro LNG pays for natural gas delivered by gas pipeline to’ Montreal, with a markup to cover the cost of liquefaction. Customers will take delivery of LNG at the LSR plant and will therefore be responsible for transporting LNG from the LSR plant. If required, Gaz’ Métro LNG may provide LNG transportation services from the LSR plant for customers, or supply the tankers needed to transport LNG, according to conditions to be agreed upon. The service should begin in spring 2016. However, Gaz Métro LNG does have some quantities of liquefied natural gas that it could make available between now and then. All the conditions can be reviewed at’ http://gnl.gazmetro.com/Default.html.
The environmental benefits of natural gas
Natural gas is the cleanest hydrocarbon. Using natural gas instead of diesel in heavy vehicles reduces GHG emissions up to 25%. In addition, using natural gas in place of heavy fuel oil reduces GHG emissions up to 32% and significantly reduces atmospheric pollutants that cause urban smog.
The economic benefits of natural gas
Fuel is one of the top budget items for industries and transporters. Given the current trend in energy prices, using LNG can lead to significant economic gains depending on a customer's individual circumstances.
About Gaz Métro and Gaz Métro LNG
Gaz Métro LNG, L.P. is a subsidiary of Gaz’ Métro that was created to market and sell liquefied natural gas (LNG).
With more than’ $5’ billion’ in assets, Gaz Métro is a leading energy provider. It is the largest natural gas distribution company in’ Quebec, where its 10,000-km underground network of pipelines serves 300’ municipalities and more than 185,000’ customers. Gaz Métro is also present in’ Vermont, producing electricity, and distributing electricity and natural gas to cater to the needs to some 300,000 customers. Gaz Métro is actively involved in the development of innovative, sustainability-oriented energy projects such as the production of wind power, the use of natural gas as a transportation fuel and the development of biomethane as a renewable energy source. Gaz Métro is committed to ensuring the satisfaction of its customers; providing support to businesses, local organizations, families and communities; and meeting the needs of its partners (Gaz Métro Inc. and Valener) and employees.’ www.gazmetro.com’
SOURCE MONTREAL,’ Nov. 20, 2013’ /CNW Telbec/ - Gaz Métro