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Woodfibre LNG said October 22 that a Deetken Insight economic impact assessment puts nearly $13.6 billion in total Canadian economic output from construction activity tied to the Squamish export plant and FortisBC's Eagle Mountain Pipeline. The CNW release is time-stamped October 22 at 11:30 a.m. Eastern. The study also projects about $7 billion in Canadian GDP, $3.6 billion in labour income, and more than 52,000 modelled employment-years from construction alone.
Over the construction period and a 40-year operating horizon, the report projects about $11.6 billion in nominal government revenue, including roughly $6.8 billion for British Columbia and about $485 million in municipal property taxes from the plant and pipeline. Woodfibre said those figures cover royalties, income taxes, carbon tax, property tax, motor fuel tax, and provincial sales tax. CEO Luke Schauerte said benefits are already showing up in jobs and site cleanup before the first LNG shipment.
The Woodfibre LNG Limited Partnership is owned 70 percent by Pacific Energy Corporation (Canada) Limited and 30 percent by Enbridge Inc. (TSX: ENB, NYSE: ENB). Nameplate capacity is 2.1 million tonnes a year on Squamish Nation territory. Woodfibre said the project is about 75 percent complete, with construction completion expected in mid-2027.
This is a third-party economic impact study. It is not first LNG production, not a final investment decision on a second train, and not an Enbridge dividend change tied to the study.