Premier Christy Clark welcomed the news that the Woodfibre LNG project has received board authorization to proceed with the $1.6-billion project that will create 650 jobs during construction and 100 operational jobs over the 25-year lifespan of the project.
This project will be the cleanest LNG project in the world and one of the largest private-sector investments in the Lower Mainland’s history.
“This marks the beginning of a tremendous opportunity for British Columbia to play a significant role in the global fight against climate change, using the world’s cleanest LNG to help countries transition away from coal and oil,” said Premier Christy Clark. “At home, this project will create hundreds of jobs for First Nations and all British Columbians.”
Supporting the government’s commitment to building the cleanest LNG industry in the world, the Province has announced it is offering a new eDrive electricity rate to LNG proponents that chose to use electric drives for compression as part of their final investment decisions.
Making this new eDrive rate available to all LNG proponents reinforces the Province’s global leadership in reducing harmful greenhouse gas (GHG) emissions while continuing to grow the economy and create jobs for B.C. families.
“The new eDrive rate provides an incentive for LNG developers to use electricity instead of natural gas for their compression needs,” said Premier Clark. “We are hopeful other LNG proponents will take advantage of this option and make what will be the cleanest LNG industry in the world even cleaner,” she added.
The new rate was a key factor leading to the decision by Woodfibre LNG’s parent company to authorize the funds to proceed with the Woodfibre LNG project.
“We appreciate the government’s leadership in addressing climate change in its creation of a new eDrive electricity rate for eDrive LNG projects like ours”, said Byng Giraud, country manager and VP of Corporate Affairs, Woodfibre LNG Limited, “This is a significant step towards encouraging the use of technology that actually contributes to the reduction of greenhouse gases.”
The Woodfibre LNG project has undergone a rigorous, science-based assessment at both the provincial and federal levels. A substituted environmental assessment, designed to meet both federal and provincial requirements, led to provincial approval in October 2015, and federal approval on March 18, 2016. The provincial environmental assessment certificate includes 25 legally binding conditions.
The Squamish Nation’s Environmental Assessment Agreement and Environmental Certificate for the project were also announced in October 2015, and Woodfibre LNG continues to work with the Squamish First Nation and the local community to finalize benefits agreements.
Over the past three years, through extensive consultations with the local community and First Nations, the project has made some significant environmental innovations such as moving the plant from a floating facility to an existing, land-based brownfield and using air-cooling technology vs. seawater cooling as part of the liquefaction process.
The Woodfibre LNG project is a small- to medium-sized LNG processing and export facility to be constructed at the former Woodfibre pulp mill site, located about seven kilometres southwest of Squamish. Once in operation, the facility will export about 2.1 million tonnes of LNG per year over 25 years. This will amount to an LNG carrier travelling through well-established shipping lanes three to four times per month.