Oil & Gas

06 Sep 2023

Pacific Energy-Enbridge Venture Woodfibre to Supply 100% Of Its LNG to BP

06 Sep 2023  by reuters   
Pacific Energy and Enbridge (ENB.TO)-owned Woodfibre said on Tuesday it would supply 100% of the LNG from its proposed plant in British Columbia to BP Plc (BP.L) after it signed another agreement with a unit of the energy major.

Woodfibre LNG had earlier signed 15-year off-take agreements with BP Plc, representing 70% of capacity.

Under the latest agreement, BP Gas Marketing Ltd will receive an additional 0.45 million tonnes per annum (mtpa) of LNG from Woodfibre over 15 years, increasing BP's total LNG off-take to 1.95 MTPA.

Calgary-based Enbridge (ENB.TO) bought a 30% stake in Woodfibre last year, with the remaining 70% owned by privately held Pacific Energy Corporation.

Woodfibre project construction is scheduled to start in September, with operations expected to begin in 2027.


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