The investment in the US$5.1\u002Dbillion development comes at a key time, with Woodfibre preparing for construction to start next year
, agreeing to invest US$1.5 billion and acquire a 30 per cent stake in the Woodfibre LNG project near Squamish, B.C.
“We see a huge opportunity here for Canada to materially ramp up LNG exports. The economic benefits are obvious, but also for Canada to play a leading role in improving global energy security and reducing GHG emissions beyond our own borders.”Article contentFor a decade, Canada has had grand aspirations to become a major player in the global LNG industry, exporting super-cooled natural gas to the world.
However, the smaller Woodfibre project has been making progress. In April, the company issued a notice for its prime contractor to move ahead with work needed to begin major site construction next year.Article content“I hope it sends a really positive message about the future of LNG,” Woodfibre president Christine Kennedy said in an interview.The agreement on Woodfibre LNG, a relatively small project that will produce 2.
Natural gas will move from the Montney region, through Enbridge’s existing pipeline system in British Columbia, into an expansion of Fortis’ Eagle Mountain pipeline, which runs to the development. The announcement marks a shift for Enbridge. It already supplies natural gas through its existing network to four operating LNG plants on the U.S. Gulf coast.“This is our first one we’ve gone into — and it’s smaller scale,” said Brian Johnson, Enbridge’s vice-president of Canadian gas transmission and midstream.
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