we reviewed earlier this week, Petronas the Malaysian energy giant is looking to extend its bid for and review its proposed merger attempt with Canadian Natural gas provider Progress Energy. With both groups attempting to find ways to meet the questions on the bid from Ottawa and secure the blessing of the Federal Government for the merger.
With a new proposal reportedly planned for the end of November, the two companies will continue working on a revised plan that will soon work its way through the Ottawa bureaucracy.
The giant merger was sidetracked last month when the proposal was denied by the Federal Government, a decision that temporarily provided for a set back for those hoping for economic and industrial growth on the North Coast.
However, it appears that Petronas and Progress have taken another look at the details of their proposal and are working to showcase the "net benefit" to Canada that the Federal Government requires for approval of the merger.
If approved, it could result in a significant amount of development just off Ridley Island and provide an economic boost to the entire region.
With that project now seemingly back on track, the local proponents of the LNG terminal for Prince Rupert are moving forward with their own consultations, with two Open Houses planned for the region.
Monday, the Petronas/Progress project will be available for review in Port Edward, with a presentation set from 4-8 PM at the Port Edward Elementary School, 633 Sunset Drive.
On Tuesday, they move to the Lester Centre of the Arts, where the proposed terminal and pipeline project will be available for review from 4 to 8PM.
The presentation will seek to provide some background on the proposed terminal project outlining the economic and employment benefits it could bring to the North Coast.
The Petronas Open House is the first of the public discussions, in what is shaping up to be a busy November of information delivery on LNG development on the North Coast.
The proponents of another project, the BG/Spectra GAs LNG development will hold their own Open House later this month, with sessions also planned for the Elementary School Port Edward and at NWCC in Prince Rupert.
As we outlined earlier this month, that group will feature a familiar face at the presentation, former Prince Rupert Mayor Herb Pond is the local Community Relations Advisor for the BG/Spectra proposal, North Coast residents can catch up with the former Mayor and learn more about the project in question on November 19th and 20th.
You can review all of our background items on the LNG file for the North Coast from our Archive section.
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