Keltic Petrochemicals and Maple LNG receive environmental approval for petrochemical plant and LNG facility



    HALIFAX, March 14 /CNW/ - Keltic Petrochemicals Inc. received
environmental approval for the integrated world-scale, US$4.5 billion
petrochemical plant and LNG Facility from the Province of Nova Scotia today.
In addition to the petrochemical plant and LNG Facility, the Goldboro, Nova
Scotia complex includes demethanizing units, 200 MW power and steam
co-generation plant, and related utility and offsite infrastructure and
systems.
    In March 2006, MapleLNG Limited, a corporation owned by 4Gas North
America and Suntera Canada Ltd, purchased the LNG portion of the overall
project from Keltic Petrochemicals. Keltic has the right to buy natural gas
and associated liquids from the LNG facility as feedstock for the
petrochemical complex.
    Environmental approval is a key milestone in project development and
clears the way for construction and commercialization. "This is a big day for
Keltic, the County of Guysborough, and the Province of Nova Scotia," said
company President, Kevin Dunn. "Environmental approval is essential to allow
us to move forward," he added. "This approval strengthens our position and
enables us to go to the next level with the feedstock supplier," continued
Mr. Dunn.
    The EA Board held hearings in three different locations over a six day
period providing ample opportunity for all stakeholders to share their views
on the Project and the impact that it will have on their lives. "There has
been tremendous community support throughout this process," Dunn said. "Keltic
is thankful to the people of Guysborough County for their continuous support
and effort in moving this project forward," he added. With regulatory
approvals in place, the project could begin construction later this year with
operations scheduled to commence in 2011.
    Keltic is committed to ongoing consultation with the community and
intends to hold another open house to update members of the public in the near
future. We want to make sure we continue to involve members of the community
and work with them to ensure that their needs are addressed.

    About Keltic

    Keltic Petrochemicals Inc. was formed in March 2000 by W. Kevin Dunn, a
native Nova Scotian and long-time Calgary area businessman. Mr. Dunn witnessed
the unprecedented growth in Alberta as a result of developments in the oil and
gas industry and recognized the potential for similar opportunities in his
home province. Keltic's plan to develop, construct, and operate a world scale
petrochemical plant in Goldboro, Nova Scotia, will be the first of its kind in
Atlantic Canada. When completed, the facility will consist of ethylene,
polyethylene, propylene and polypropylene plants as well as a supporting
cogeneration plant and receiving terminal for LNG.




For further information:

For further information: Kevin Dunn, President, Keltic Petrochemicals
Inc., (902) 422-4557

Organization Profile

KELTIC PETROCHEMICALS INC.

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