SQUAMISH, BC, Sept. 5,
2023 /CNW/ - Woodfibre LNG, the world's first
liquefied natural gas (LNG) export facility that is set to achieve
net zero carbon emissions, has now committed all of its offtake for
sale to bp Gas Marketing Limited (BPGM), a wholly-owned indirect
subsidiary of bp p.l.c., with a total firm LNG offtake of 1.95
million tonnes per annum (MTPA) and the remainder on a flexible
basis.
Woodfibre LNG Limited Partnership has signed a third LNG Sales
and Purchase Agreement (SPA) with BPGM for the delivery of LNG from
the Woodfibre LNG export facility near Squamish, British Columbia. Under the terms of
this SPA, BPGM will receive an additional 0.45 MTPA of LNG over 15
years on a free on board (FOB) basis.
Woodfibre LNG, the first LNG export
facility set to achieve net zero, has now committed all of its
offtake for sale
"Canada, and particularly
British Columbia, is uniquely
positioned to take the lead on exporting lower-carbon LNG overseas
as part of the global energy transition. Today's announcement
demonstrates there is demand for lower-carbon energy today and well
into the future," said Christine
Kennedy, president of Woodfibre LNG.
"We look forward to working with BPGM as the offtaker from the
Woodfibre LNG project to deliver Canadian LNG from one of the
lowest carbon intensive LNG export facilities in the world. The
global demand for lower carbon energy makes Woodfibre LNG a
supplier of choice in the energy transition," said Ratnesh Bedi, Pacific Energy president.
"As a leader in the energy transition and partner in the
Woodfibre LNG Project, Enbridge is pleased with today's
announcement. Woodfibre LNG will play an important role in
providing global LNG markets with a safe, secure and sustainable
source of natural gas produced by one of the lowest emission LNG
facilities in the world," said Cynthia
Hansen, Enbridge Executive Vice President and President of
Gas Transmission and Midstream.
Woodfibre LNG is scheduled to begin construction in September
this year and operations will begin in 2027.
About Woodfibre LNG
The Woodfibre LNG Project is owned by Woodfibre LNG Limited
Partnership, owned 70 per cent by Pacific Energy Corporation
(Canada) Limited and 30 per cent
by Enbridge Inc. The Woodfibre LNG facility is being built on the
site of the former Woodfibre pulp mill site, which is located about
seven kilometers southwest of Squamish,
B.C.
Woodfibre LNG will source its natural gas from Pacific
Canbriam Energy, a Canadian company with operations in Northeastern British Columbia. Pacific
Canbriam is an industry leader in sustainable natural gas
production. Woodfibre LNG and Pacific Canbriam Energy are
subsidiaries of Pacific Energy Corporation Limited. Woodfibre LNG
is the first industrial project in Canada to recognize a non-treaty Indigenous
government, Sḵwx̱wú7mesh Úxwumixw (Squamish Nation), as a full
environmental regulator.
About Pacific Energy
Pacific Energy, which is part of the Singapore-based RGE group of companies, is an
independent energy resources development company focused on helping
North America and growing Asian
economies meet their increasing energy requirements. The company
strategy is to invest, develop, build, own and operate innovative
and cost-competitive projects throughout the energy value chain,
while maintaining attention to our role as a responsible corporate
citizen.
About Enbridge
At Enbridge, we safely connect millions of people to the
energy they rely on every day, fueling quality of life through our
North American natural gas, oil or renewable power networks and our
growing European offshore wind portfolio. We're investing in modern
energy delivery infrastructure to sustain access to secure,
affordable energy and building on two decades of experience in
renewable energy to advance new technologies, including wind and
solar power, hydrogen, renewable natural gas and carbon capture and
storage. We're committed to reducing the carbon footprint of the
energy we deliver, and to achieving net zero greenhouse gas
emissions by 2050.
Headquartered in Calgary,
Alta., Enbridge's common shares trade under the symbol ENB
on the Toronto (TSX) and
New York (NYSE) stock exchanges.
To learn more, visit us at Enbridge.com
SOURCE Woodfibre LNG