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Home Energy News Woodfibre signs LNG deal with CNOOC

Woodfibre signs LNG deal with CNOOC

VANCOUVER, B.C. – Woodfibre LNG has signed an agreement with CNOOC Gas and Power Trading and Marketing for 13 years of LNG from the yet to be built facility.

Last week the company signed an agreement that would see Woodfibre export 0.75 mmtpa of LNG for 13 years starting in 2023.

Woodfibre LNG is the owner of the Woodfibre LNG Project, which is a planned LNG processing and export facility at the former Woodfibre pulp mill site, about seven kilometres southwest of Squamish, British Columbia.  The Woodfibre LNG Project has a storage capacity of 250,000 m3 and is licensed to export approximately 2.1 million tonnes of LNG per year for 40 years.

“Natural gas is recognized around the world for its role in a low carbon energy future, and we are proud to have an opportunity, even in a small way, to be part of this energy transition,” said Ratnesh Bedi, President of Pacific Oil & Gas Limited, in a news release Friday.

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