Woodfibre LNG Project to Generate $13.6 Billion in Economic Output and $11.6 Billion in Government Revenue

New economic impact study highlights significant contributions to Canada’s economy, job creation and long-term growth in British Columbia

SINGAPORE – Media OutReach Newswire – 3 November 2026 – The Woodfibre LNG Project is delivering substantial economic benefits to Canada and British Columbia, with construction activities expected to contribute nearly $13.6 billion in economic output to the Canadian economy and generate an estimated $11.6 billion in government revenue over the project's construction and planned 40-year operating period.

According to a new economic impact study conducted by Canadian strategy and research firm Deetken Insight, the investment in the Woodfibre LNG facility and FortisBC's Eagle Mountain Pipeline is expected to generate significant economic activity across the country, supporting businesses, creating employment opportunities and contributing to government revenues.

The study estimates that construction activities will contribute nearly $7 billion to Canada's Gross Domestic Product (GDP), generate approximately $3.6 billion in labour income and support more than 52,000 modelled employment-years, representing over 15,000 direct and indirect jobs.

The project and associated pipeline activities are also projected to generate approximately $11.6 billion in government revenue over the construction and 40-year operating period. This includes an estimated $6.8 billion for British Columbia and approximately $485 million in municipal property taxes.

These revenues are expected to come from various sources, including resource royalties, income taxes, carbon tax, property tax, motor fuel tax and provincial sales tax.

Luke Schauerte, President and CEO of Woodfibre LNG, said: "Woodfibre LNG has yet to produce its first shipment of LNG, but the project is already delivering significant economic benefits to British Columbia and Canada. We're generating jobs, supporting businesses, creating opportunities for First Nations and contributing to economic growth in communities across the province and country today. These benefits are already being realised, and they represent just the beginning of the economic contribution Woodfibre LNG will make over the next 40 years."

Beyond its direct economic contributions, Woodfibre LNG, a member of the RGE group of companies founded by Sukanto Tanoto, has invested $50 million in the cleanup and remediation of the former Woodfibre pulp mill site, transforming a previously contaminated industrial brownfield into the site of a major new energy infrastructure project.

The company has also supported local communities through its Community Partnership Programme and other initiatives. These include a contribution of nearly $1 million towards the purchase of a new CT scanner for Squamish General Hospital, helping strengthen local healthcare services.

While these community investments and philanthropic contributions were not included in the economic impact study, they form an important part of Woodfibre LNG's broader commitment to delivering lasting benefits to the region throughout the project's lifecycle.

Schauerte added: "Economic growth is most meaningful when communities can see and experience its impact. At Woodfibre LNG, that means creating employment, providing opportunities for local and Indigenous businesses, supporting community organisations and investing in the restoration of the site. We are committed to being a responsible long-term partner to the Squamish community and contributing positively to the region for decades to come."

The Woodfibre LNG Project is currently approximately 75 per cent complete, with construction expected to be completed in mid-to-late 2027. Once operational, the facility will have the capacity to produce approximately 2.1 million tonnes of liquefied natural gas (LNG) annually for export. It is also expected to become the world's first net-zero LNG facility, marking an important milestone in the development of Canada's LNG industry.

The latest economic impact findings underscore the project's role in supporting Canada's economic growth, strengthening British Columbia's energy sector and creating long-term opportunities for businesses, workers and communities.

Hashtag: #WoodfibreLNGProject


http://www.woodfibrelng.ca

The issuer is solely responsible for the content of this announcement.

About Woodfibre LNG

The Woodfibre LNG Project is owned by Woodfibre LNG Limited Partnership, owned 70 per cent by Pacific Energy Corporation (Canada) Limited and 30 per cent by Enbridge Inc. The Woodfibre LNG facility is being built on the site of the former Woodfibre pulp mill site, which is located about seven kilometres 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 recognise a non-treaty Indigenous government, Sḵwx̱wú7mesh Úxwumixw (Squamish Nation), as a full environmental regulator.

• Prev
• Next