“This is the third non-binding agreement announced by Woodfibre LNG and neither of the two previous agreements has been transferred to a definitive LNG purchase agreement from Woodfibre LNG,” the group said in a statement. The Squamish First Nation has confirmed a thebreaker story that shames the potential value of Squamish`s more than $1 billion in performance agreements with Woodfibre LNG. The LNG comes from the Woodfibre LNG project being developed in the Squamish District, British Columbia, by Woodfibre LNG Limited, a Canadian subsidiary of Woodfibre LNG Export. The planned purchase of LNG in the HoA will provide a stable, long-term supply of natural gas to meet the growing demand for clean energy in the city of Guangzhou, People`s Republic of China. Guangzhou is the capital and largest city of Guangdong Province, China. The company behind Woodfibre LNG, Indonesia`s Pacific Oil & Gas Ltd., has already called for the project to continue. The company has signed removal agreements with Asian buyers and gas supply agreements with producers in northeastern British Columbia.C. The planned purchase of LNG in the HoA will ensure a stable long-term supply of natural gas to meet the growing demand for clean energy in Guangzhou City. As with other removal agreements, this agreement will be concluded closer to the start of plant operations, according to Woodfibre LNG.
“Any agreement under this removal agreement that would guarantee reliable raw materials from BP Canada for Woodfibre would be another important development, and obviously, BP is a very attractive and deep-pocketed partner who has a personal interest in Woodfibre`s success. Of the $225.7 million in cash payments, $18.75 million will be made to reach certain milestones. The first payment is made when the agreements are officially signed. This announcement follows the signing of a letter of intent between Woodfibre LNG Export and Guangzhou Gas Group in September 2014 on the potential LNG removal agreement. On May 9, 2016, Woodfibre LNG Limited announced that its Singapore-based subsidiary, Woodfibre LNG Export Pte Ltd. (Woodfibre LNG Export) has signed an agreement (HoA) with Guangzhou Gas Group Co., Ltd (Guangzhou Gas Group) on the potential LNG purchase of 1 mtpa of liquefied natural gas (LNG) for 25 years from 2020. .