Woodfibre LNG’s board of directors have approved construction of its $1.6-billion project near Squamish, the first major LNG company to make a final investment decision. “This project is a go,” said Woodfibre vice-president of corporate affairs and country manager Byng Giraud, flanked by B.C. Premier Christy Clark.
The project, which will produce 2.1 million tonnes of LNG a year, is the smallest of the leading four proposals in British Columbia. Those include a $25-billion venture led by Shell in northwest B.C. that has been put on hold because of low gas prices, growing supply and an uncertain demand picture.
Giraud said work is already under way at the site, but major construction will not take place until after the company receives permit approval from the B.C. Oil and Gas Commission by the end of 2017.
GORDON HOEKSTRA – VANCOUVER SUN – NOVEMBER 4, 2016.
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