Australia's Woodside Signs Canada LNG Deal

Australia’s Woodside and Canadian province of British Columbia signed an agreement which provides the company with exclusive right to negotiate a long-term tenure for an LNG facility at the south site of Grassy Point.

"Grassy Point is an ideal site for LNG development, and this is the second agreement we've signed," said Premier Christy Clark in a statement.

There are currently more than 10 LNG project proposals in British Columbia.

"British Columbia is building a strong, competitive new industry," said Minister of Natural Gas Development, Rich Coleman. "This agreement with Woodside is another promising LNG proposal for our province which will create jobs and economic activity."

LNG development at Grassy Point is subject to various regulatory approvals and an investment decision by the proponent. According to the agreement Woodside must meet several milestones, including applying for an export permit from the National Energy Board and submitting project descriptions with British Columbia and Canada to successfully complete the environmental assessment process.

"Woodside looks forward to working with the Government of British Columbia, the First Nations and the community as we assess the feasibility of an LNG development at Grassy Point," said Peter Coleman, Woodside CEO and managing director.

Sign-up for our free weekly newsletter update via email here