This is thee pipeline giant\u0027s first investment in a liquified natural gas terminal. Find out more
According to an agreement forged with Singapore-based Pacific Energy Corp., Enbridge will have a 30 per cent ownership stake in the $5.1-billion LNG project, planned for a site near Squamish, B.C. Pacific Energy will retain the remaining 70 per cent stake in the facility.
“We searched far and wide for this opportunity,” Enbridge chief executive Al Monaco told investors in a conference call Friday. “We looked at a lot of others actually and we’ve landed on this one because ticked all the boxes for us and one of the important boxes is ensuring predictability of cash flows.”
In exchange for its capital contribution, Enbridge will receive a preferred equity interest that provides future cash flows, the company said in a release.Article content Woodfibre LNG, which proponents plan to build on the site of a former pulp mill more than 60 kilometres north of Vancouver, will have an export capacity of 2.1 million tonnes per year. The project has been approved by the federal and B.C. governments and by the Squamish Nation.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Enbridge takes 30% stake in Woodfibre LNG projectThis is thee pipeline giant\u0027s first investment in a liquified natural gas terminal. Find out more
Read more »
JV Spartans in semi-final action at home July 30Meanwhile the Spartans men’s team preps for Aug. 6 playoff start
Read more »
Missing person, 30, last seen in Meadowlands area TuesdayOttawa police’s missing persons unit is seeking public assistance to help them find 30\u002Dyear\u002Dold Andy Moriarity, who was last seen in the Meadowlands area of…
Read more »
What to do in Burnaby this weekend: July 30-Aug 1On Sunday, the Vancouver Water Splashing Festival returns for the first time since pandemic. 💧
Read more »
B.C. cleaning up 30 derelict vessels, 1,000 km of shorelineRichmond-based non-profit Ocean Legacy Foundation will clear 400 kilometres of shoreline debris from North Vancouver Island to the south coast of the Sea to Sky region.
Read more »
Oyster Bed Speedway to host East Coast International Pro Stock Tour July 30 | SaltWireOYSTER BED BRIDGE, P.E.I. — The East Coast International Pro Stock Tour is making its second visit of the season to the Oyster Bed Speedway for the BJ’s ...
Read more »