West coast project will be the first LNG export facility in the world to achieve net zero emissions
SQUAMISH, CANADA – Media OutReach
– 28 March 2023 – Woodfibre LNG is proud to announce its Roadmap to Net Zero
, a tangible plan to achieve net zero emissions by the time operations start in 2027, 23 years ahead of government regulation. This roadmap will see Woodfibre LNG be the first LNG export facility in the world to achieve net zero, and includes commitments to be net zero both through the construction stage of the Project and during operations. Woodfibre LNG is member of the Pacific Energy group of companies.
This fast-tracked timeline exceeds the federal requirement to be net zero by 2050, while providing benefits to local First Nations, British Columbians, and Canadians. The Project’s net zero roadmap follows the B.C. Government’s announcement of a new Energy Action Framework,
requiring proposed LNG facilities in or entering the environmental assessment process to develop and submit a credible plan to be net zero by 2030.
“Woodfibre LNG’s roadmap prioritizes emissions avoidance and reduction opportunities, and we are proud to have a credible strategy in place that will make us the world’s first net zero facility,” said Christine Kennedy, President of Woodfibre LNG. “Alongside the leadership and vision set out by the Province’s new Energy Action Framework
, achieving net zero allows Woodfibre LNG to advance the global energy transition, furthering economic reconciliation and contributing to British Columbia’s standard of living.”
Woodfibre LNG is able to achieve net zero in part because of early stage decisions aligned with the Indigenous led environmental assessment process conducted by the Squamish Nation, which resulted in the Nation’s own environmental assessment agreement related to the Project in 2015. Among these was the commitment for electric compressors using renewable hydroelectricity from BC Hydro, resulting in 14 times fewer emissions than a conventional LNG facility.
Woodfibre LNG was already designed to be the lowest carbon intensive LNG export facility in the world, with an annual emissions profile of 83,374 tonnes of CO2e annually, and a carbon intensity of 0.04 (tonne of carbon dioxide equivalent [CO2e] per tonne of LNG), below the Provincial benchmark of 0.16.
The company’s net zero roadmap commits to implementing certain GHG reducing technologies, and outlines incremental opportunities to reduce emissions further as technologies develop and become more affordable.
As part of its net zero roadmap, Woodfibre LNG will also offset emissions during the construction phase of the Project. Woodfibre LNG has secured carbon credits from Cheakamus Community Forest, which is a nature-based carbon offset project in Whistler, where the Squamish Nation, Lil’Wat Nation and Resort Municipality of Whistler are partners. In addition, Woodfibre LNG has procured carbon credits from BigCoast Forest Climate Initiative for hard-to-abate emissions during operations. BigCoast Forest Climate Initiative is a nature-based, forest preservation project located in coastal British Columbia that has partnerships with over 25 First Nations.
Woodfibre LNG’s robust strategy has been independently validated by a Canadian climate engineering firm, Brightspot Climate Inc.
Woodfibre LNG’s net zero roadmap is consistent with Canada’s Methane Strategy
and draft guidance for best-in-class GHG emissions performance by oil and gas projects. The roadmap is a living document that will be updated on an annual basis to integrate efficiency improvements, new technologies, and evolving industry practices to reflect the evolving net zero industrial and regulatory landscape.
“Woodfibre LNG’s announcement comes at a time when global trading partners, such as Japan, are calling on the Government of Canada to provide a reliable, sustainable source of LNG to support global energy demands. The Woodfibre LNG Project has a critical role to play in demonstrating that British Columbia and its diversified portfolio of energy offerings can contribute to a low carbon future, both at home and abroad”, said Ratnesh Bedi, President of Pacific Energy.
Review Woodfibre LNG’s Roadmap to Net Zero at www.woodfibrelng.ca/emissions
The issuer is solely responsible for the content of this announcement.
About Woodfibre LNG
The Woodfibre LNG Project is owned and operated by Woodfibre LNG Limited Partnership, a privately held Canadian company based in Vancouver, British Columbia held 70 per cent by Pacific Energy Canada and 30 per cent by Enbridge. Woodfibre LNG Limited is the owner of the former Woodfibre pulp mill site, which is located about seven kilometers southwest of Squamish, B.C.
Woodfibre LNG will source its natural gas from Pacific Canbriam Energy, a Canadian company with operations in Northeastern British Columbia. Pacific Canbriam is an industry leader in sustainable natural gas production. Woodfibre LNG and Pacific Canbriam Energy are subsidiaries of Pacific Energy Corporation Limited. Woodfibre LNG is the first industrial project in Canada to recognize a non-treaty Indigenous government, Sḵwx̱wú7mesh Úxwumixw (Squamish Nation), as a full environmental regulator.
About Pacific Energy
Pacific Energy, which is part of the Singapore-based RGE group of companies, is an independent energy resources development company focused on helping North America and growing Asian economies meet their increasing energy requirements. The company strategy is to invest, develop, build, own and operate innovative and cost-competitive projects throughout the energy value chain, while maintaining constant attention to our role as a responsible corporate citizen.
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
MGBF is hosting a networking session with Romania's global analyst, Radu Magdin, in Kuala Lumpur. Join the discussion on strategic shifts and conflict flash points that impact Malaysia’s international facing business.
Expanding on the Malaysian government's efforts to promote the country as a trade and investment destination of choice, MGBF will engage with the many industry leaders who announced multi-billion dollar commitments.
The global trend towards a sustainable future is driven by multiple forces. What does Malaysia have to do to achieve resilience at the corporate level while creating new business opportunities?
Special session: Cyberwarfare Waged on the Corporate Sector - Lessons from the Russia-Ukraine Crisis. Corporations are in a digital arms race that many don't realise. How does this relate to your organisation?
MGBF In The News
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]
The Malaysia Global Business Forum (MGBF) has released a report following the roundtable on ‘Digital Resilience in the Corporate Sector’, which was recently held in Kuala Lumpur. In attendance as guest of honour was Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin. The report recommended several critical development […]
Trade and investment delegations will trickle back over the next few months, but the second half of the year should see considerable return of business travellers. It was learnt that over 50 per cent of international business chambers and industry associations surveyed will consider sending exploratory teams to Malaysia during […]