Pacific Oil & Gas said that its unit, Woodfibre LNG signed heads of agreement with China’s CNOOC Gas and Power Trading & Marketing for the supply of liquefied natural gas from its project in British Columbia, Canada.
The deal signed with the CNOOC Gas and Power Group’s unit, would see Woodfibre LNG deliver 0.75 mtpa of LNG from its project.
The deal has a 13-year term with the deliveries set to start in 2023, Pacific Oil & Gas said in its statement.
The Woodfibre LNG project involves the construction and operation of a liquefied natural gas (LNG) export facility on the previous Woodfibre pulp mill site, which would have a storage capacity of 250,000 cubic meters and would produce approximately 2.1 million tons per year of LNG.