Woodfibre LNG to create new, cleaner LNG facility in British Columbia
In ordering a cryogenic heat exchanger, Woodfibre LNG has secured the final step for the construction of a new liquefied natural gas project (LNG) in Canada that promises to cut greenhouse gas emissions by as much as 80 percent.
It will do so through the power of hydroelectricity. It will include both a liquid natural gas processing and export facility, and in the end, run its creators somewhere between $1.4 billion and $1.8 billion. Besides cleaner energy production, however, that investment also promises major job gains for the Squamish, British Columbia area. Woodfibre predicts more than 650 jobs will be needed during the construction of the facility and expects more than 100 of those to remain after construction is complete.
“As Canada’s transition to a cleaner future gains momentum, our Government will continue to support projects that have the potential to meet our energy needs while helping more people get ahead,” Bill Morneau, Canadian Finance Minister, said. “Woodfibre LNG, along with LNG Canada, are prime examples of how economic growth, environmental protection, and partnerships with Indigenous Peoples can come together to create good, well-paying middle-class jobs.”
The Canadian government has also assured the company that it will be shielded from duties on fabricated steel necessary for the LNG project’s modules. Though the project will have to turn beyond Canada for some of these supplies, the project is expected to be completed before the end of summer.
Additionally, the Woodfibre project holds a unique quality among its competitors. It is the first industrial project to undergo the Squamish Nation’s environmental assessment process and is the first industrial project in Canada to be awarded an environmental certificate by an Indigenous government.
