Enbridge Says Canada's Woodfibre LNG Close to Finalizing All Off-Take Agreements

(Reuters) — Canada's Woodfibre LNG project is close to signing off-take agreements for the remaining 30% of its capacity, and virtually all the LNG produced will be going to Asia, Enbridge CEO Greg Ebel said on Tuesday.

Calgary-based Enbridge, one of North America's largest energy infrastructure companies, bought a 30% stake in the planned 2.1 million ton per annum Woodfibre project near Squamish, British Columbia, last year.

Privately owned Pacific Energy Corp. Ltd. owns the remainder of the project, due to start construction this year and begin operations in 2027.

The project already had signed 15-year off-take agreements with BP Plc representing 70% of capacity, and Ebel said deals covering the rest of the capacity were on track to be finalized soon.

"Hopefully in the next few months we will get those remaining ones done," he said, speaking on the sidelines of an LNG conference in Vancouver.

Ebel declined to say to which counterparties were interested in buying the LNG but said it would be going to Asia.

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