B.C.’s Woodfibre LNG project gets investment green light

Friday, November 4, 2016

Construction for the $1.6 billion Woodfibre LNG project in B.C. could begin in 2017. The board of directors has approved construction of the project near Squamish, the first major LNG project in the province to make a final investment decision.

This project will be the cleanest LNG project in the world and one of the largest private-sector investments in the Lower Mainland’s history.

Woodfibre LNG will bring to Squamish an estimated 650 good paying construction jobs per year during an estimated two-year construction period, 100 full-time jobs to the Woodfibre site during operation, plus a dozen or so administration-related jobs to Squamish during the life of the project.

Premier Christy Clark welcomed the news that the Woodfibre LNG project has received board authorization to proceed.

“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,” said Premier Clark. “At home, this project will create hundreds of jobs for First Nations and all British Columbians.”

The Woodfibre LNG project has undergone a rigorous, science-based assessment at both the provincial and federal levels. A substituted environmental assessment, designed to meet both federal and provincial requirements, led to provincial approval in October 2015, and federal approval on March 18, 2016. The provincial environmental assessment certificate includes 25 legally binding conditions.

The Woodfibre LNG project is a small- to medium-sized LNG processing and export facility to be constructed at the former Woodfibre pulp mill site, located about seven kilometres southwest of Squamish. Once in operation, the facility will export about 2.1 million tonnes of LNG per year over 25 years. This will amount to an LNG carrier travelling through well-established shipping lanes three to four times per month.

Pending permit approval from the B.C. Oil and Gas Commission, construction for the Woodfibre LNG Project could begin in 2017, with operation in 2020.

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