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    MediaOutReach

    Woodfibre LNG signs second sales agreement with BP Gas Marketing Limited

    SQUAMISH, BRITISH COLUMBIA, CANADA - Media OutReach - 7 May 2021 - Woodfibre LNG has taken another step toward shipping some of the world's cleanest LNG to Asian markets, where it can offset coal and displace millions of tonnes of greenhouse gas every year. Pacific Oil & Gas Limited's (PO&G) wholly-owned subsidiary, Woodfibre LNG, has signed a second LNG Sales and Purchase Agreement (SPA) with BP Gas Marketing Limited (BPGM), a wholly-owned indirect subsidiary of BP Plc, for the delivery of liquefied natural gas (LNG) from PO&G's Woodfibre LNG export facility near Squamish, British Columbia. Under the terms of the SPA, BPGM will receive 0.75 million tonnes per annum (MTPA) of LNG over 15 years on a free on board (FOB) basis. This latest SPA will increase BPGM's total LNG off-take to 1.5 MTPA, over 70 per cent of Woodfibre LNG's future annual production. "Forward-looking companies like BP are turning to projects like ours for sustainable, stable gas that will supply a clean energy mix," said Ratnesh Bedi, PO&G President. "We look forward to working with BPGM to deliver Canadian natural gas from one of the lowest carbon footprint LNG facilities in the world, and help advance the climate goals of growing economies as they phase away from coal, lower their emissions, and meet net-zero targets." Pacific Oil & Gas is a member of the Singapore-based RGE group of companies. Founded by Sukanto Tanoto, RGE manages a group of resource-based manufacturing companies with global operations. "The use of renewable energy for e-drive power places Woodfibre – and Squamish – at the forefront of the world's clean energy transition," said Ron Bailey, president of Woodfibre LNG. About Woodfibre LNG LimitedThe Woodfibre LNG project is located approximately 7 km west-southwest of Squamish, British Columbia. It involves the construction and operation of a liquefied natural gas (LNG) export facility on the previous Woodfibre pulp mill site. The facility would have a storage capacity of 250,000 m3 and would produce approximately 2.1 (MTPA) of LNG. Woodfibre LNG is a privately held Canadian company based in Vancouver and Squamish, and is a subsidiary of Pacific Oil & Gas Limited. About Pacific Oil & Gas Woodfibre LNG is a subsidiary of Pacific Oil & Gas (PO&G), an independent energy resources development company. PO&G's business includes major investments throughout the energy supply chain, including oil and gas developments, power plants and gas transmission networks, LNG receiving terminals, and the Woodfibre LNG project in Squamish, British Columbia, Canada. Pacific Oil & Gas is a member of the RGE group of companies. RGE manages a group of resource-based manufacturing companies with global operations. #WoodfibreLNG #PacificOil&Gas #PO&G

  • Anglo American expects to reopen Moranbah North coal mine in May
    Business
    Reuters

    Anglo American expects to reopen Moranbah North coal mine in May

    Anglo American expects to resume operations at its Moranbah North coal mine in Australia in May after safety inspections and work on restoring systems began on Friday. Operations at the mine, which produces coking coal used in steelmaking, were suspended in February after a coal heating issue that led to elevated gas readings underground. "It is expected that operations will restart during May," Anglo American's metallurgical coal CEO Tyler Mitchelson said in a statement.

  • Tamboran Launches Inaugural Sustainability Plan
    Business
    ABN Newswire

    Tamboran Launches Inaugural Sustainability Plan

    Tamboran Resources Limited today released its inaugural Sustainability Plan, outlining the Company's wide-ranging set of commitments and actions to achieve its vision of playing a part in the global energy transition to a lower carbon future through the development of a large-scale, clean, low CO2 natural gas resource in the Beetaloo Sub-basin in the Northern Territory of Australia.