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Sunday, July 13, 2014

Canada’s Woodfibre LNG Ready to Export Liquefied Gas to Asia




Singapore-based Woodfibre LNG branch in Canada is ready to export the liquefied gas from British Columbia to Asia, starting from the beginning of year 2017. Sukanto Tanoto, the head of the company, has been struggling to make his company in Canada recognized as one of potential exporters of liquefied gas from the sites in British Columbia terrain. Now, the letter of intent between the company and British Columbia has been agreed and signed.

Sukanto Tanoto’s Company is the First LNG Exporter in British Columbia

The lead director of Woodfibre LNG, Imelda Tanoto (daughter of Sukanto Tanoto) stated that this signing of letter of intent has made Woodfibre as the first LNG exporter in British Columbia, Canada. This is an important achievement for the company, since Woodfibre has been underestimated among other similar companies in reaching the LNG exporting goal from British Columbia.

The plan is to export about 2 million tones of liquefied gas every year, and the first investment will be about $2 billion. While the first export will be started in year 2017, the first investment bill proposal will be extracted in year 2015. This means that the company has short time to prepare for its first successful proposal to be exporter of LNG from British Columbia, and the export will be focused on Asia.

Woodfibre other Plans in Canada

Sukanto Tanoto has been planned to increase the gas export to Asia through his Canadian gas company, improving energy sources Asian countries need to fulfill its growing needs for energy. The agreement with British Columbia will also give extra revenues for the locals, as well as providing more job opportunities for local people.

Also, the company plans to build new LNG facilities at old and defunct pulp mill facility in Squamish town, providing new revenue sources for the company and locals.

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