Pacific Energy Corp. Ltd.’s Woodfibre LNG project in Western Canada is fully subscribed after the latest agreement with BP plc, according to the company.

Canada Export Capacity

BP has inked a third sales and purchase agreement for 15 years of offtake on a free-on-board basis from the export project in British Columbia, covering a combined 1.95 million metric tons/year (mmty). The remainder would be available to BP on a “flexible offtake basis,” according to the firm.

Woodfibre LNG is targeted to produce at least 2.1 mmty from its single train currently under construction.

“As the world seeks secure, affordable and lower carbon energy, global demand for LNG is expected to continue to grow and this additional Canadian supply source will further enhance bp’s supply positions in the Pacific...