Enbridge takes a stake in Woodfibre LNG

Chamber of Shipping > Blog > News > Local > Enbridge takes a stake in Woodfibre LNG

Woodfibre LNG Limited and Enbridge Inc. announced an agreement to jointly invest in the construction and operation of the Woodfibre LNG project. Under the partnership agreement, Enbridge will invest in a 30% ownership stake in the $5.1 billion Woodfibre LNG project, with Pacific Energy retaining the remaining 70% stake in the facility. Capital for the project includes a contribution in aid of construction for the expansion of FortisBC Energy Inc.’s (“FortisBC”) Eagle Mountain to Woodfibre pipeline which will connect the facility through FortisBC’s system to Enbridge’s T-South natural gas transmission system. The partners will jointly participate in project’s execution and governance of ongoing operations, while Pacific Energy retains responsibility for daily operations.

Related Posts