Woodfibre LNG Export and Guangzhou Gas Group have signed a memorandum of understanding concerning potential LNG offtake of 1 mtpa of the chilled gas for 25 years starting in 2017.
The LNG will be sourced from the Woodfibre LNG project, which is being developed in the District of Squamish by Woodfibre LNG Limited, a Canadian-based affiliate of Woodfibre LNG Export. The LNG offtake contemplated in the MoU will provide long-term stable supply of natural gas to meet the rapidly-growing demand in Guangzhou City, People’s Republic of China.
The Woodfibre LNG project is expected to start production in the first quarter of 2017 with an annual capacity of 2.1 million tonnes.
Woodfibre LNG Export, a part of the Pacific Oil & Gas group of companies, has secured an export license from the National Energy Board in Canada to export 2.1 million tonnes of LNG from the Woodfibre LNG Project for a period of 25 years.
LNG World News Staff, September 26, 2014; Image: Woodfibre LNG