Woodfibre LNG signs a 15-year LNG SPA with BP
June 26, 2019
Pacific Oil & Gas announced that its wholly-owned subsidiary, Woodfibre LNG Export, has signed a binding LNG SPA with BP Gas Marketing for the delivery of LNG from Woodfibre LNG export facility in Squamish, British Columbia. Under the terms of the SPA, BP will receive 0.75 MTPA of LNG over 15 years on an FOB basis, with first delivery expected in 2023. Concurrently, BP Canada and PO&G are working on an agreement for BP Canada to provide gas transportation and balancing services ensuring a reliable delivery of gas to the Woodfibre LNG export facility over the 15 year term.
The Woodfibre LNG project is located approximately 7 km west-southwest of Squamish, BC. It involves the construction and operation of an LNG export facility, which would have a storage capacity of 250,000 m3 and would produce approximately 2.1 MTPA of LNG.
Edited from Woodfibre LNG Press Release