Pacific Energy-Enbridge Venture Woodfibre to Supply 100% of its LNG to BP
(Reuters) — Pacific Energy and Enbridge-owned Woodfibre said on Tuesday it would supply 100% of the LNG from its proposed plant in British Columbia to BP Plc after it signed another agreement with a unit of the energy major.
Woodfibre LNG had earlier signed a 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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