VANCOUVER, B.C. – Woodfibre LNG’s Singapore-based affiliate announced today that they have signed a Heads of Agreement with Guangzhou Gas Group Co., Ltd concerning a potential LNG offtake of 1 mtpa of liquefied natural gas for 25 years commencing in 2020.
BC Premier Christy Clark was present to witness the signing of the agreement, along with her counterpart from the Chinese province of Guangdong, Hu Chunhua. The Heads of Agreement includes a potential investment of up to 10% of the equity of Woodfibre LNG Limited by Guangzhou Gas Group.
A Memorandum of Understanding between Woodfibre LNG Export and Guangzhou Gas Group concerning the potential LNG offtake was previously signed between the two parties in September of 2014, the same month that the Chinese province opened a trade office in Vancouver.
The Woodfibre LNG Project is expected to start production in 2020 with an annual capacity of approximately 2.1 million tonnes.