Canada’s government will invest C$200 million ($140 million) in the Woodfibre LNG project under construction near Squamish, British Columbia, said a person familiar with the matter, an investment that will increase announced capacity by up to 24%.
* Owners Enbridge and Singapore-based Pacific Energy designed Woodfibre to produce 2.1 million metric tons of liquefied natural gas a year, all of which is contracted to BP
* The new funding will raise capacity to between 2.5 million and 2.6 million tons via upgrades to cooling systems and the commissioning and mooring of floating storage tanks, the person said on condition of anonymity
* The owners are also exploring a second phase for the project, the person said
* The owners aim to begin operations in late 2027
(Reporting by Amanda Stephenson in Calgary; Editing by Christopher Cushing)