On September 5, Woodfibre LNG, a liquefaction project in development on the British Columbia (BC) coastline in Squamish, announced that it had entered into a Sales and Purchase Agreement (SPA) with BP Gas Marketing Limited, an indirect subsidiary of BP PLC, for an additional 0.45 million tonnes per annum (MMtpa) of LNG for 15 years. This tops up BP’s total offtake from Woodfibre to 1.95 MMtpa after having previous agreements in place to purchase 1.5 MMtpa. With Woodfibre’s total capacity pegged at 2.1 MMtpa (~290 MMcf/d), BP has effectively become the sole recipient of future LNG exports from Woodfibre, with the remaining 0.15 MMtpa available to BP on a flexible (spot) basis.
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You've Got a Friend in Me - Enbridge Makes a Major Investment in Canada’s Woodfibre LNG
There finally seems to be some momentum building for additional LNG export projects on Canada’s West Coast. Major pipeline and midstream operator Enbridge announced in late July that it was making an investment in Woodfibre LNG, a smaller-scale export project that has already come a long way in terms of approvals, pipeline connections, locking up gas supplies, and initial financing. With the Enbridge announcement — and the financial and technical clout the company brings to the table — it is now looking assured that the project will commence construction next year and be exporting LNG by 2027. In today’s blog, we take a detailed look at Woodfibre LNG.
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Keep This Party Going - An Update on Canada's West Coast LNG Export Projects
Developers have been kicking around plans for LNG exports from British Columbia (BC), Canada’s westernmost province, for more than a decade, with more than 20 projects on the drawing board at one point. That long list has been whittled down to just three that have reached the point of final investment decision (FID) — a hard plan to proceed to construction and startup. One of those projects, LNG Canada, should be sending out LNG as soon as the end of this year, placing Canada firmly on the map of LNG-exporting nations. In today’s RBN blog, we take a closer look at the three projects and hint at plans by a handful of contenders vying to join the LNG export party.
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You Still Believe in Me - An Update on LNG Export Projects Along Canada's West Coast
Global LNG markets have been in overdrive this winter — it seems the world just can’t get enough of the super-cooled natural gas. Moreover, with long-term LNG demand growth in Asia appearing robust well into the next decade, the time would seem ripe to reconsider expanded export opportunities from Canada’s West Coast, one of the closest and potentially largest sources of LNG for Asian buyers. With one major LNG export project already under construction, at least one more awaiting the final go-ahead, and two more serious proposals having emerged last year, Canada’s outlook for additional LNG sales to Asia is clearly bright. In today’s RBN blog, we discuss recent developments regarding Canadian LNG projects.
