Clark, Tanoto ink LNG letter of intent


David Burke / Squamish Chief
May 13, 2014 12:52 PM

B.C.’s premier has signed a letter of intent with the proponents of a liquefied natural gas (LNG) facility proposed in the Squamish area, a move that aims to “further the growth of LNG in the province.”

The letter, signed by B.C. Premier Christy Clark and Imelda Tanoto, Woodfibre LNG lead director, on May 7 in Singapore, “reflects the commitment by the Province and Woodfibre LNG to enter into negotiations regarding a project  development agreement to secure mutual interests,” B.C. government officials wrote in a statement.

“The Province has requested that Woodfibre LNG continue to advance their intention to build an export facility in British Columbia and work toward a final investment decision for the project.”

The Woodfibre signing is the second such letter of intent signed by Clark with LNG proponents during the premier’s current trade mission in Asia.

Woodfibre Natural Gas is proposing to build a $1.7 million LNG processing and export facility at the site of the old Woodfibre pulp mill along Howe Sound. The project is undergoing a blended federal-provincial environmental assessment. If approved, proponents have said they hoped to make a final investment decision on the project in early 2015.

In signing the letter, Clark said her government is affirming its commitment to the development of LNG for export.

“Woodfibre LNG is moving forward with their proposal because they understand the scope of the opportunity in British Columbia,” she said. “We are building a competitive new export industry in our province — one that will create unprecedented prosperity and jobs for decades.”

Said Tanoto, “Woodfibre LNG is advancing rapidly towards reaching a final decision on the construction of the Woodfibre LNG project. Reaching this agreement with Premier Christy Clark is a strong signal to our company that the Government of British Columbia is committed to the success and viability of the LNG sector.”

© Coast Reporter


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