Canada has committed C$200 million ($140 million) to support the Woodfibre LNG export facility, a project backed by Indonesia’s wealthiest individual. The funding was announced by Canadian Energy Minister Tim Hodgson in Vancouver on Friday, as part of Prime Minister Mark Carney’s efforts to reduce reliance on US exports.
The Woodfibre LNG plant, located near Squamish, British Columbia, is approximately 75% complete and is expected to begin operations next year. The facility is positioned just north of Vancouver, making it a strategic asset for Canada’s energy sector.
The investment underscores Canada’s push to diversify its energy exports, with the Woodfibre LNG project playing a key role in this strategy. The facility’s completion is eagerly anticipated, as it will contribute to the country’s growing LNG export capabilities.