Out of memory error on pg_restore

I am running PostgreSQL 8.1.3 on Windows 2003 Server.

I am trying to transfer the data from a table in db1on one machine to a
table in db2 on a different machine. The table size is about 22Gb
(about 280 million rows).

I was trying to do it by generating a backup file of the table in db1
and restoring it to db2. First, I created a plain 22Gb SQL dump and
tried inserting it via psql. After some time it failed with the
following error:

psql: ERROR: out of memory
DETAIL: Failed on request of size 32.

I tried creating a compressed backup file (about 800Mb) and restoring
it using pg_restore but I got the following error:

pg_restore: ERROR: out of memory
DETAIL: Failed on request of size 32.
CONTEXT: COPY lane_data, line 17345022: "<line of data goes here>"
pg_restore: [archiver (db)] error returned by PQendcopy
pg_restore: *** aborted because of error

So it seems like I am getting the same error in both cases.

What is the cause? How could I adjust the restoring process or database
parameters to handle this transfer? Is there a better way to transfer
this data?

Thanks.