Woodfibre moving forward with LNG export terminal

Woodfibre LNG Ltd said  it plans to move forward with construction of its proposed $1.4-$1.8 billion liquefied natural gas export terminal in British Columbia later this year with the facility expected to be operational by 2023.

That could make the Woodfibre plant the first LNG export facility in Canada, according to Reuters.

There are 18 LNG export projects under development in Canada, including Woodfibre, according to Natural Resources Canada.

Royal Dutch Shell Plc, meanwhile, made a final investment decision to build its $40 billion LNG Canada plant in B.C. in 2018. LNG Canada is expected to enter service in 2024.

Woodfibre said it is targeting a final investment decision to build the project this summer.

(Reuters)