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Woodfibre signs HoA with CNOOC regarding potential LNG offtake

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LNG Industry,

Pacific Oil & Gas Ltd (PO&G) has announced that its subsidiary Woodfibre LNG Export Pte Ltd has signed a heads of agreement (HoA) with CNOOC Gas and Power Trading & Marketing Ltd.

The HoA concerns the potential offtake of 0.75 million tpy of LNG for a 13-year period, commencing in 2023.

Woodfibre LNG Export is the Singapore-affiliate of Woodfibre LNG Ltd – the owner of the Woodfibre LNG project. This is a planned LNG processing and export facility located at the former Woodfibre pulp mill site, approximately 7 km southwest of Squamish, British Columbia (B.C.), Canada. The project has a storage capacity of 250 000 m3 and is licensed to export approximately 2.1 million tpy of LNG for a 40-year period.

Ratnesh Bedi, President of PO&G, said: “Natural gas is recognised around the world for its role in a low carbon energy future and we are proud to have an opportunity, even in a small way, to be part of this energy transition.”

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