LNG Project to Move Forward
Prince George, B.C.- There have been a number of proposed LNG projects in B.C. and today comes word of one that will come to fruition.
Woodfibre LNG project has made its final financial investment decision and will go ahead with its $1.6 billion dollar project to be located on the former Woodfibre pulpmill site about 7 kms southwest of Squamish.
The project is expected to create 650 construction jobs and 100 operational jobs when complete.
The facility is expected to export 2.1 million tonnes of LNG each year for 25 years. That means there will be one LNG carrier ship moving through that shipping lane on the southwest coast three to four times a month.
The final investment decision came in the wake of the Province announcing a new eDrive electricity rate for LNG proponents so they get a break on the electricity they use in order to liquefy the natural gas. Using electricity instead of natural gas to liquefy the product reduces greenhouse gas emissions.
The natural gas will be transported to the Woodfibre site via a 47 kilometre extension of Fortis gas lines.