Ottawa supplying $200M for B.C.’s Woodfibre LNG project

Federal Natural Resources Minister Tim Hodgson announced Friday that Ottawa is giving Woodfibre LNG $200 million to help enable the company to ship more gas when the export terminal comes online. The money will be used to boost expected production from 2.1 million tonnes of liquefied natural gas per year to between 2.5 and 2.6 million tonnes per year, and to fund exploration for a potential phase 2 expansion. Woodfibre LNG is expected to start shipping gas from Howe Sound near Squamish in late 2027. Hodgson says the overall goal is to diversify trading partners and create an investment “supercycle” “For decades, our natural gas exports flowed almost exclusively to a single market,” Hodgson said in Vancouver on Friday (Nov. 13). “But working together, governments, industry, and Indigenous people are rewriting that story for the benefit of all Canadians.” The project is being built in collaboration with the Squamish Nation, which is acting as the environmental regulator. B.C.

This excerpt comes from the named source. Read the original for the full reporting.