Second agreement reached for LNG terminal development at Grassy Point
An agreement is now in place for development of a second LNG Terminal at Grassy Point.
On Jan. 16, the Ministry of Natural Gas Development signed a sole proponent agreement with Australian company Woodside for 693.6 hectares of land and 243.9 hectares of foreshore on the southern part of Grassy Point. Under the agreement, Woodside will pay the province $4 million now, another $6 million on or before the first anniversary of the agreement and a further $7 million on the second anniversary for a total payment of $17 million. If the land is acquired by Woodside, the $17 million submitted to the Province will be subtracted from the final sale price.
"Grassy Point is an ideal site for LNG development, and this is the second agreement we've signed. Every step forward brings us closer to realizing the opportunity presented by LNG, bringing billions in investment and 100,000 new jobs throughout the province," said Premier Christy Clark.
"Woodside looks forward to working with the Government of British Columbia, the First Nations and the community as we assess the feasibility of an LNG development at Grassy Point," said Peter Coleman, Woodside CEO and managing director.
Woodside joins Aurora LNG, who signed a sole proponent agreement in November, as project proponents for the Grassy Point site.