Canada’s Woodfibre LNG issues notice to proceed
Woodfibre LNG said April 14 it had issued a notice to proceed to its prime contractor McDermott International to begin the work needed to move the 2.1mn mt/yr liquefaction project north of Vancouver toward a major construction start in 2023.
In late March, Woodfibre’s Indonesian owner, Pacific Energy, confirmed a 2022 capital budget of C$625mn (US$500mn), although a formal investment decision for the C$5.1bn project at Squamish, BC has not yet been made.
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Powered by renewable hydroelectricity from the BC Hydro grid, LNG from Woodfibre, when used to replace coal in Asian power generation facilities, will reduce global CO2 emissions by about 3.5mn mt/yr, equivalent to about 5% of BC's annual emissions. With the notice to proceed, Woodfibre LNG expects to see substantial completion in 2027.