The Canadian government announced on Friday morning that it is investing $200 million in B.C.’s Woodfibre LNG.
“Just a week after the federal government introduced Budget 2026, which we have titled Masters of Our Destiny when it comes to ongoing work to become a global energy superpower, Budget 2026 is clear about what the goals actually mean in practice, making Canada the premier global destination for investment in energy and natural resources,” said Energy Minister Tim Hodgson Friday morning.
“And by doing so, launching a new investment super cycle here in Canada.”
The Woodfibre LNG facility, located southwest of Squamish, will receive natural gas, cool it into liquefied natural gas, where it will be loaded onto specialized LNG carriers and exported overseas.
It is designed to produce approximately 2.1 million tonnes of LNG each year
It was the first LNG export facility in Canada approved to use electric compressors instead of conventional gas-powered turbines. Combined with nature-based carbon offsets for hard-to-abate emissions, the company said it has committed to operate as the world’s first net-zero LNG export facility.
Get daily National news
Get daily Canada news delivered to your inbox so you’ll never miss the day’s top stories.
“Woodfibre is demonstrating what is possible when governments, First Nations and industry work together,” Premier-Designate Lorne Doerkson said in a statement.
“The Squamish Nation led its own environmental assessment, establishing 25 legally binding conditions and continues to play an important oversight role as the project moves forward. That partnership has created certainty, strengthened the project and established a foundation everyone can build on.”
Doerkson said that Woodfibre’s first cargo is expected to sail from Howe Sound next year.
“For decades, our natural gas exports float almost exclusively to a single market,” Hodgson said.
“But working together, governments, industry, Indigenous people are rewriting that story for the benefit of all Canadians. Our Pacific coastline gives Canada direct access to some of the world’s most dynamic economies. We will seize that advantage.
“We will turn geographic advantage into conditions to attract investment to this country, to build major projects, and to create jobs for British Columbians and Indigenous peoples.”
© 2026 Global News, a division of Corus Entertainment Inc.
Source: globalnews.ca
