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Exxon Mobil to invest $25 billion in LNG project

Staff writer |
Exxon Mobil has submitted plans to develop what could be a $25-billion liquefied natural gas (LNG) project near Prince Rupert on British Columbia's north coast.

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Exxon and its Canadian partner Imperial Oil outlined a strategy for West Coast Canada LNG, or WCC LNG, in a report to the provincial government's Environmental Assessment Office. Exxon said it considered eight potential export facility sites in the Kitimat and Prince Rupert areas before deciding to locate at Tuck Inlet, which has a deep-water shipping area and is within easy access to marine transport routes.

"WCC LNG project will leverage the extensive expertise of both Exxon Mobil and Imperial to develop the project resource in a safe and environmentally responsible manner that integrates community engagement into every aspect of the business", the report said.

It said Exxon has 40 years of experience developing LNG projects in Qatar, Indonesia and New Guinea and now wants to develop one in Canada.

WCC LNG project believes that Canada and B.C. are well positioned to further grow domestic gas production and provide globally competitive and sustainable LNG exports to attractive Asian and global markets.

Exxon said if it decides to go ahead with the WCC LNG project, construction will start in two years and the plant expected to be in operation by 2024. It said between 1,000 and 6,000 construction jobs could be created.

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