Encana Inc. (ECA) has announced that the proposed Kitimat liquefied natural gas export terminal in British Columbia will help to stabilize gas prices in North America and provide an outlet for growing production from the province’s Horn River Basin. Executives from Encana, which holds a 30% stake in the USD 2.9 billion Kitimat project, said during an investor presentation on October 4th that they’re in talks with six customers in Asia to take delivery of shipments from the Kitimat LNG terminal. Encana and its partners including EOG Resources Inc. (EOG) and Apache Corp. (APA) will make a final decision on whether to proceed with the Kitimat project in the first quarter of next year, after a front-end engineering and design study is complete, the executives said. If approved, Kitimat would begin operating in late 2015, eventually shipping up to 1.4 billion cubic feet a day to Asia.