MONTREAL – Gaz Metro Limited Partnership (TSX:VNR) has signed an agreement in principle with Anticosti Hydrocarbons LP to help develop natural gas from Anticosti Island in the Gulf of St. Lawrence.
Anticosti Hydrocarbons has agreed to an exclusive five-year partnership with Gaz Metro.
Under the deal, Gaz Metro will provide expertise in transporting natural gas to market should any be produced on the island.
It also has acquisition rights to any natural gas produced as well as transporting or distributing it to market.
Anticosti Hydrocarbons is owned by Ressources Quebec, Investissements PEA Inc., Saint-Aubin E&P and Corridor Resources Inc.
The partnership holds 38 permits for hydrocarbon exploration totaling 6195 square kilometres on Anticosti Island.