BC and Woodside reach second LNG agreement

The government of British Columbia and Woodside have reached an agreement concerning a new liquefied natural gas (LNG) export facility at Grassy Point, near Prince Rupert.

BC Premier Christy Clark commented: “Grassy Point is an ideal site for LNG development, and this is the second agreement we’ve signed. Every step forward brings us closer to realising the opportunity presented by LNG, bringing billions in investment and 100 000 new jobs throughout the province.”

The government and Woodside signed a sole proponent agreement, which provides the company with the exclusive right to negotiate a long-term tenure for an LNG facility at the south site of Grassy Point.

Promising LNG proposal
“British Columbia is building a strong, competitive new industry,” said Minister of Natural Gas Development, Rich Coleman. “This agreement with Woodside is another promising LNG proposal for our province which will create jobs and economic activity.”

CEO of Woodside, Peter Coleman, added: “Woodside looks forward to working with the Government of British Columbia, the First Nations and the community as we assess the feasibility of an LNG development at Grassy Point”.

LNG development at Grassy Point is subject to regulatory approvals and an investment decision by the proponent. According to the agreement, Woodside must meet several milestones, including applying for an export permit from the National Energy Board and submitting project descriptions with British Columbia and Canada to successfully complete the environmental assessment process.

There are currently more than 10 LNG project proposals in British Columbia.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17012014/grassy_point_lng_agreement_52/