A Canadian corporation, including a First Nations partner, has started design work on a proposed US$10 billion floating liquefied natural gas project in Newfoundland & Labrador that would be fed by 5 trillion cubic feet of natural gas in provincial waters.

The province holds more than 12 Tcf of gas resources — all untouched — some 8 Tcf of which lies in the proven Jeanne d’Arc basin, with the remainder located offshore Labrador.

Over the years, many plans have been put forward to develop this gas, either through LNG schemes or via an export pipeline to the eastern US seaboard.