Canada to Invest $200 Million in Woodfibre LNG Project Near Squamish
The federal government of Canada will invest $200 million in the Woodfibre LNG project near Squamish, B.C., boosting its annual production capacity by up to 24 percent through infrastructure upgrades.
The federal government of Canada is set to invest $200 million in the Woodfibre LNG project currently under construction near Squamish, British Columbia. The funding is intended to increase the facility's announced liquefied natural gas production capacity by up to 24 percent.
Woodfibre LNG is owned by Enbridge and Singapore-based Pacific Energy. The project was originally designed to produce 2.1 million metric tons of liquefied natural gas annually, with all of that initial production capacity contracted to BP.
The new investment will raise annual capacity to between 2.5 million and 2.6 million metric tons. This expansion will be achieved through upgrades to cooling systems as well as the commissioning and mooring of floating storage tanks.
The owners are also exploring a second phase for the project. Operations at the facility are targeted to begin in late 2027.