WLNG and Guangzhou Gas Group Sign LNG Agreement

Woodfibre LNG Limited announced today that its Singapore-based affiliate Woodfibre LNG Export Pte Ltd. (Woodfibre LNG Export) has signed an agreement 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. 
Premier Christy Clark and 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 agreement, the company said, 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. Today’s announcement follows the signing in September of 2014 of a Memorandum of Understanding between Woodfibre LNG Export and Guangzhou Gas Group concerning the potential LNG offtake agreement. 
“The HoA with Guangzhou Gas Group shows there is an appetite in Asia for made in BC LNG,” said Byng Giraud, Country Manager and Vice President Corporate Affairs, Woodfibre LNG Limited. “This preliminary agreement gets us one step closer to making the Woodfibre LNG Project a reality, and bringing much-needed jobs and other economic benefits to Squamish and the surrounding area.”
 

Comments

  1. tjay says:

    Good.

  2. Jean says:

    Economic direct action is what we need, lets vote with our spending’s, a good way, start with boycotting Chinese merchandise, for there support for WLNG by signing a worth less piece of paper that they are anyway not considering to adhere to ( remember the coal deal at Thumbler Ridge). China has 2x more LNG potential then Canada, so let them use there own and as far as our government, lets get ready to build up an other party as a third power, in a coalition, to send the present government packing in less then a Year and yes, lets not make a mistake to replace one no good with an other no good, it is time that we have a coalition that has to be responsible with a strong, fair and democratic leader, it has worked well for many nations. The Swiss in particular and to stop to have big business buy the politicians an or union ..same thing. This is the first item on the agenda . Canadian LNG send elsewhere is doing the pollution for others in our country . It will ruin a fair price policy for domestic Energy as there is always a way to artificially jack up the cost, by pretending that they don,t need the local market and we better pay what the other guys are willing to pay ( nice bluff).
    We don,t need a referendum, even so on the coast and especially in Squamish, the No LNG would dominate, we have to speak with our pocket book and with the support of right minded non corrupt individuals, to engage them to get involved and the re-emergence of endless talk of the so called sophisticated , educated, professional talkers, is not what this country needs, less talk and more action. Lets stop buying Chines stuff and let them know, until they rescind that empty promise to buy WLNG, we will not buy Chinese stuff.. there are many other nations, maybe a bit more cost, but worth making a point.