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Irving plans cross-border energy corridor

The Globe and Mail reports today that, “Irving Oil Ltd. is looking to expand its energy exporting empire into electricity with a proposal to build a 600-megawatt gas-fired power plant that would be a key supplier to an ambitious new ‘energy corridor’ that New Brunswick and Maine plan to develop.”

The gas-fired power plant, to be built near Saint John, would use “feedstock” from the $1-billion liquefied natural gas plant Irving is completing.

The article continues, “New Brunswick Premier Shawn Graham and Maine Governor John Baldacci Wednesday launched a study (to be conducted by Irving) to determine the feasibility of a new transmission corridor, which would carry electricity, natural gas and gasoline from the province to the energy-hungry U.S. Northeast.”

New Brunswick premier Shawn Graham says the energy corridor “is going to increase the security and reliability for the northeastern states.”

The article notes, “The other potential customer for the expanded transmission capacity is the proposed nuclear reactor that would be built at Pointe Lepreau, N.B….” Irving “also has plans with partner BP PLC to spend up to $8-billion to double the size of its Saint John refinery to become the largest in North America.”

The Council of Canadians is tracking this story. We will be holding our annual general meeting in Saint John this coming October 23-25.

The full article can be read at
http://www.theglobeandmail.com/servlet/story/RTGAM.20090325.wirvingstaff0325/BNStory/energy/?page=rss&id=RTGAM.20090325.wirvingstaff0325