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B.C. Premier welcomes Woodfibre LNG progress

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LNG Industry,

Recently, Woodfibre LNG announced that its parent company, Pacific Oil & Gas Ltd, has authorised the funds necessary for the Woodfibre LNG project to proceed.

The Premier of British Columbia (B.C.), Canada, Christy Clark, has welcomed the news, claiming: “This marks the beginning of a tremendous opportunity for British Columbia to play a significant role in the global fight against climate change, using the world’s cleanest LNG to help countries transition away from coal and oil.”

The small to mid scale, CAN$1.6 billion processing and export project will be located at the former Woodfibre pulp mill site, approximately 7 km southwest of Squamish, B.C. It will export approximately 2.1 million tpy of LNG over 25 years, and will create 650 jobs during construction, as well as 100 operational jobs over its 25-year lifespan.

In the statement, the B.C. government added that it is offering a new eDrive electricity rate to LNG proponents that choose to use electric drives for compression as part of their final investment decisions (FID).

Clark said: “The new eDrive rate provides an incentive for LNG developers to use electricity instead of natural gas for their compression needs.

“We are hopeful other LNG proponents will take advantage of this option and make what will be the cleanest LNG industry in the world even cleaner.

Byng Giraud, Country Manager and VP of Corporate Affairs, Woodfibre LNG Ltd, commented: “We appreciate the government’s leadership in addressing climate change in its creation of a new eDrive electricity rate for eDrive LNG projects like ours.

“This is a significant step towards encouraging the use of technology that actually contributes to the reduction of greenhouse gases.”

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