The Woodfibre LNG project has received board authorization to proceed with the $1.6-billion project that will create 650 jobs during construction and 100 operational jobs over the 25-year lifespan of the project.
This project will be the cleanest LNG project in the world and the largest private-sector investment in the Lower Mainland’s history.
“This marks the beginning of a tremendous opportunity for British Columbia to play a significant role in the global fight against climate change, using the world’s cleanest LNG to help countries transition away from coal and oil,” said Premier Christy Clark. “At home, this project will create hundreds of jobs for First Nations and all British Columbians.”
Supporting the government’s commitment to building the cleanest LNG industry in the world, the Province has announced it is offering a new eDrive electricity rate to LNG proponents that chose to use electric drives for compression as part of their final investment decisions.
Making this new eDrive rate available to all LNG proponents reinforces the Province’s global leadership in reducing harmful greenhouse gas (GHG) emissions while continuing to grow the economy and create jobs for B.C. families.
“The new eDrive rate provides an incentive for LNG developers to use electricity instead of natural gas for their compression needs,” said Premier Clark. “We are hopeful other LNG proponents will take advantage of this option and make what will be the cleanest LNG industry in the world even cleaner,” she added.
The Woodfibre LNG project is a small to medium-sized LNG processing and export facility to be constructed at the former Woodfibre pulp mill site, located about seven kilometres southwest of Squamish. Once in operation, the facility will export about 2.1 million tonnes of LNG per year over 25 years. This will amount to an LNG carrier travelling through well-established shipping lanes three to four times per month.
eDrive electricity rate
The Government of British Columbia and BC Hydro have announced a new eDrive electricity rate, which will be provitded to LNG proponents that connect to the BC Hydro integrated grid and use clean, renewable electricity for the liquefaction process (using compressors to chill and liquefy natural gas) at their facilities.
The new eDrive rate will be available only to proponents once they have announced their final decision to proceed with their LNG projects and use electricity to power their liquefaction process. LNG proponents who use grid power for liquefaction will also receive the new eDrive rate, which is the same rate as the standard industrial electricity rate, for their ancillary power needs.
Natural gas is the world’s cleanest-burning fossil fuel, producing half the amount of greenhouse gas emissions emitted by coal, and only two-thirds of that emitted by oil.
Today, natural gas is the largest energy source used in Canadian homes. It is also used to support industrial and transportation energy needs.
Liquefied natural gas, or LNG, is natural gas chilled to -160 degrees Celsius. At this temperature, the natural gas converts into a liquid form.
As a transition fuel, natural gas will play a strong role in both energy and economic security for several more decades as renewable technologies, energy storage, and smart grid systems evolve.
Climate change is a global issue today. By supplying international markets with the cleanest burning fossil fuel, B.C. can fight climate change on a global scale.
China, for example, has set a goal of almost doubling the role of natural gas in its energy portfolio and displacing coal use by 2020. B.C.’s natural gas could play a critical role in helping China reduce its use of coal-fired electricity.
Analysis shows that lifecycle greenhouse gas emissions from the production and consumption of B.C. LNG would be more than 20% lower than those from coal produced and consumed in China.
Woodfibre LNG Limited has proposed an LNG export facility near Squamish, British Columbia.
|Project Partners||Woodfibre LNG Limited|
|Project Location||Squamish, British Columbia|
|Million Metric Tonnes Per Annum||2.1|
|National Energy Board Status||Application|
|Canadian Environmental Assessment Status||Approved|
|B.C. Environmental Assessment Status||Approved|