SQUAMISH, B.C. – The B.C. Oil and Gas Commission has approved a permit to build the $1.6 billion Woodfibre LNG project near Squamish. Officials with the project anticipate a final investment decision as soon as this summer.
“Following a rigorous process, Woodfibre LNG is pleased to have received our Facility Permit issued from the BC Oil and Gas Commission (BC OGC), one of the key permits required for construction and operation of the project,” said Woodfibre LNG president David Keane in a press release.
“This is a positive step forward as we work to build the cleanest LNG export facility in the world.”
The permit specifies 25 legally binding environmental conditions with a focus on public and environmental safety.
“Previous to this permit, Woodfibre LNG is proud to have received three major environmental assessment approvals,” added Keane. “Our environmental assessment process with the Squamish Nation is the first of its kind in Canada. The progress we have made would not be possible without the contributions and feedback made by our First Nation partners and the Squamish community.”
Late last year the Squamish First Nation council approved the project after working with officials on a benefits agreement which could pump hundreds of millions of dollars into the Nation over the next 40 years.
“As we move towards construction, we will strive to exceed the high standards of public and environmental safety that are expected of us by the Canadian, B.C., and Squamish Nation governments, and the Squamish community,” said Keane. “This permit is a large piece of our puzzle, and with it in place, we are working towards a final decision to proceed with this project this summer.”