Woodfibre LNG announces $625 million budget for this year, possibility of final investment decision soon

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Woodfibre LNG, a Vancouver\u002Dbased private subsidiary of Singapore’s Pacific Energy Corp., appears to be gearing up for another construction start, announcing that it has an approved budget this year of $625 million.

The $625 million spending was revealed in a recent presentation to the District of Squamish council. Fortis also provided an update on a 47-kilometre natural gas pipeline from the Coquitlam area that would be built to feed the liquid natural gas facility if the project goes ahead.

Woodfibre officials said a significant component of the remainder of the budget is for detailed engineering and design work. “The project is taken very seriously,” responded Kennedy. “It’s just a matter of the timing of that final notice .” The group is opposed to the project because they say it will increase fracking to extract natural gas, lock in climate pollution, and puts residents at risk that live along the proposed pipeline route in Squamish and Coquitlam, or near the LNG carrier route in Howe Sound or English Bay.Article content

Woodfibre LNG was one of many projects hyped in B.C. that was meant to create an export industry to Asia for the province’s abundant natural gas resources and underpin a new, job-creating economy for the province.

 

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More pipelines then ever before, more plants then ever before, more industry then ever before…yet the highest gas prices then ever before…coincident? I think not!

I think it’s already missed the boat for the main feast but can have left overs 😎

Fuck this

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 /  🏆 49. in JP

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