Enbridge Inc. and Pacific Energy Corp. formed a partnership agreement to invest in the construction and operation of the C$5.1 billion ($3.98 billion) Woodfibre LNG project in British Columbia.
The Woodfibre LNG project is a 2.1 million-metric-ton-per-year export facility being built near Squamish, underpinned by two offtake agreements with BP Gas Marketing Ltd. for 15 years representing 70% of the capacity. The project is expected to begin service in 2027.
The Calgary-based Enbridge will invest in a 30% ownership stake in the liquefied natural gas project, with Singapore-based Pacific Energy retaining the rest. Enbridge didn’t say how much it would pay for the stake.
The investment will contribute toward the construction of FortisBC Energy Inc.’s Eagle Mountain-to-Woodfibre pipeline, which would connect the facility to Enbridge’s T-South natural gas transmission system.
Recent Posts
Ammonia
Azane Unveils New Subsidiary to Drive Ammonia Bunkering Development Oslo, Norway
Fuels Heavy oils
Public sector carbon emissions fall to 3.7 mn tonnes in Singapore
Fuels Heavy oils
UltraTech Cement targets to achieve 85% green energy
Fuels LNG
JCB unveils hydrogen combustion technology