XLE & Oil

Canada plans $140 million investment to expand Woodfibre LNG export capacity

Oil & Gas 360·Nov 13, 2026 · 2:30 PM CT
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Canada's federal government plans to invest about $140 million (C$200 million) in the Woodfibre LNG export project near Squamish, British Columbia, a person familiar with the matter told Reuters, potentially raising annual capacity as much as 24%, from 2.1 million metric tons to about 2.5 to 2.6 million. The project, owned 70% by Singapore-based Pacific Energy and 30% by Enbridge, is scheduled to start in late 2027, with original capacity contracted to BP under 15-year agreements. The added money would go to cooling-system upgrades and floating storage tanks rather than a new liquefaction plant.

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