Thank you, Mr. Speaker. Mr. Speaker, the Mackenzie Valley Producer Group and the Mackenzie Valley Aboriginal Pipeline Corporation, this consortium has completed, as we all know, a feasibility study for the development of onshore gas in the Mackenzie Delta.

On January 7th, this consortium announced they have completed work on their feasibility study and that they are now proceeding with work on the project definition phase. They have a number of timelines they have announced.

This first quarter of this year, 2002, they plan to submit a preliminary information package as well as in the third quarter, towards the third quarter of 2003. They plan on submitting a full pipeline application in about a little over a year. Their plan now is to, in the first quarter of 2005, in three years time, if they receive the project approval they will make final project decisions. By the second quarter of 2008, in about six years time, they hope to have the construction completed and commence production.

This consortium is working now on the pre-development agreement. This is a contractual arrangement that sets out the relationship between the Mackenzie Valley Aboriginal Pipeline Corporation, as well as the future operators of the project. This is what is going on at this point in time. That is all we know for now, Mr. Speaker. Thank you.