Question-and-Answer Session
Operator
Ladies and gentlemen, we will now conduct a Q&A session in two parts. First, we will take questions from analysts, followed by the media. (Operator instructions). And your first question comes from the line of Linda Ezergailis with TD Newcrest. You may proceed.
Linda Ezergailis – TD Newcrest
Thanks. Just wanted to get a little bit more clarity on the Walker Ridge gathering system timing. What sort of approvals are still required either by boards or regulators or et cetera and what sort of steps must be taken or what – what events is it dependent on to firm up the agreement?
Pat Daniel
Linda, I'll ask Steve Letwin to respond to those questions.
Steve Letwin
Yes. Hi, good morning, Linda. Yes, we have Letters of Intent signed with Chevron and all the partners involved in the venture. Our expectation would be that we'll move rather quickly now to finish off the agreements and hope to hand this over to our major construction project group, which is headed up Al Monaco.
So we will have completion of this particular base by 2014. So everything is lined up very well. As you might expect, with a company like Chevron, all the T's and I's pretty well have to dotted and crossed before we can press release and we've done a lot of work to make that happen.
Linda Ezergailis – TD Newcrest
So just to make clear, it would be in service by 2014 fully or in phases or –?
Steve Letwin
Yes.
Linda Ezergailis – TD Newcrest
Okay. And then when would construction start for 2014 in service date?
Steve Letwin
It's about a two to three-year process. So we are hopeful that we are going to be able to get things rolling in a major way in 2010, 2011.
Linda Ezergailis – TD Newcrest
Great, thank you.
Pat Daniel
Thanks, Linda.
Operator
And your next question comes from the line of Robert Kwan with RBC Capital Markets. You may proceed.
Robert Kwan – RBC Capital Markets
Hi, good morning. Just in terms of the corporate, can you break down what some of the variance is on the FX gains versus the interest and other costs and also, maybe can you explain that against the Q1 '09 corporate costs of $11.5 million?
Pat Daniel
Corporate costs – Colin, would you?
Colin Gruending
Sure. Well, yes, good morning, Robert. As Richard mentioned, I think you've laid them out in the variances, the table variances, probably (inaudible) largely interest savings on the short-term debt and a little bit higher mix of short-term floating debt. To support the other smaller part, there is a whole variety of them in here, but we’ve just mentioned a couple. FX is between $3 million and $4 million in the quarter and O&E is a little bit smaller than that. We expect to come back.
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