Woodfibre LNG Limited announced on May 9, 2016 that its Singapore-based affiliate Woodfibre LNG Export Pte Ltd. (Woodfibre LNG Export) has signed a Heads of Agreement (HoA) with Guangzhou Gas Group Co., Ltd (Guangzhou Gas Group) concerning potential LNG offtake of 1 mtpa of the liquefied natural gas (LNG) for 25 years starting in 2020.
The signing was witnessed by The Honourable Christy Clark Premier of British Columbia and Mr. Hu Chun Hua, Secretary of Guangdong Provincial Party Committee as the two leaders continue to work to strengthen the important economic relationship between the two provinces. The Chinese province of Guangdong opened a trade office in Vancouver, British Columbia – the first of its kind in Canada – in September of 2014.
The LNG will be sourced from the Woodfibre LNG Project, which is being developed in the District of Squamish, British Columbia by Woodfibre LNG Limited, a Canadian-based affiliate of Woodfibre LNG Export. The LNG offtake contemplated in the HoA will provide a long-term stable supply of natural gas to meet the rapidly-growing demand for clean energy in Guangzhou City, People’s Republic of China. Guangzhou is the capital and largest city in Guangdong Province of China.
The Woodfibre LNG Project is expected to start production in 2020 with an annual capacity of approximately 2.1 million tonnes.
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