What are the Economic Benefits of Woodfibre LNG in B.C.?

Woodfibre LNG: Quick Facts

Woodfibre LNG is a liquefied natural gas export facility being built near Squamish, B.C., and it is expected to enter service in 2027 ^[2]. It is one of the handful of current LNG projects in Canada moving from pre-construction to reality.

• Location: near Squamish on Howe Sound, with a 40-year LNG export licence ^[1]
• Capacity: 2.1 million tonnes of LNG per year, with 250,000 m³ of floating storage ^[1]
• Cost: USD $8.8 billion (CAD ~$12.2 billion) as of August 2025, up from USD $5.1 billion in 2022 ^[3]
• Status: construction began November 2, 2023 ^[1]; about 75% complete as of October 2026, with construction completion expected in mid-to-late 2027 ^[2]
• Gas supply: Eagle Mountain pipeline, connecting to the T-South system ^[1]
• Customers: 100% of capacity sold to BP Gas Marketing under three 15-year agreements ^[1]

Woodfibre LNG Economic Impacts

Woodfibre LNG’s economic benefits are expected to come in two waves: construction spending now, spurring regional activity in goods and services, manufacturing, construction, and other sectors, but also government revenue over 40 years of operation ^[1].

WLNG Facility: Construction Economic Impacts

Building the Woodfibre LNG facility, including related contingencies, is projected to add about $5 billion to cumulative GDP and generate roughly $2.5 billion in wages, supporting more than 37,600 job-years of employment. Including all intermediate supply-chain transactions, total economic output comes to roughly $9.5 billion ^[1].

Eagle Mountain Pipeline: Construction Economic Impacts

Building the Eagle Mountain pipeline is expected to add more than $2 billion to GDP across Canada and generate more than $1 billion in wages, supporting roughly 14,700 job-years of employment. Including all intermediate supply-chain transactions, total economic output is estimated at $4 billion ^[1].

Total Construction Impacts: WLNG & Eagle Mountain Pipeline

Together, the two projects are expected to add about $7 billion to GDP across Canada and generate roughly $3.6 billion in wages, supporting approximately 52,400 job-years of employment. Including all intermediate supply-chain transactions, total economic output comes to around $13.6 billion. These figures show major energy infrastructure projects feed into local and regional supply chains, benefitting Canada’s economy at large ^[1].

Why Woodfibre LNG Matters for B.C. and Canada

The importance of Woodfibre LNG, and other liquefaction projects like it, cannot be overstated. They turn B.C.’s vast natural gas reserves into new economic opportunities for Canadians, translating into more government revenue for public services and good jobs in the region, particularly in the Squamish area.

Canada’s LNG projects are also playing a key role in opening up new customers for Canadian natural gas beyond the United States. Woodfibre LNG’s output is sold under long-term contracts to BP for global buyers ^[1], so less of our gas depends on a single customer to the south.

In 2025, Canada exported 8.6 billion cubic feet per day of natural gas by pipeline, and nearly all of it went to the U.S. ^[4] Today, Canadian natural gas is sold at a steep discount to the U.S. Henry Hub benchmark, largely a result of infrastructure bottlenecks, weakening U.S. demand, and other factors ^[5].

Global LNG Demand is Growing

Global LNG demand could reach nearly 700 million tonnes a year by 2050, up from 422 million tonnes in 2025 (15% of global natural gas demand), an increase of around 65 per cent ^[6]. Most of the world’s future LNG demand will come from Asian economic growth and intensifying energy security risks ^[6], making Woodfibre LNG ideally located with relatively short shipping times across the Pacific Ocean.

Additionally, demand for secure, reliable LNG supply is growing, as shown by Ksi Lisims LNG’s third offtake agreement in recent months. Like Woodfibre LNG, Ksi Lisims LNG expects to account for all 12 mtpa of its capacity by the end of 2026.

The reality is that many nations across the world – from Poland to Greece to Latvia to Japan to South Korea – have all said they support or would purchase Canadian-made LNG if it were made available. With our abundant natural gas reserves, Canada should step up and provide the world the energy it is asking for – benefitting our families here at home in the process by creating immense economic opportunities for our families.

Canada Needs More LNG Projects

Woodfibre LNG shows what Canada gains when projects get built. B.C. has more opportunities waiting, from the North Coast to the South. Each LNG export facility that reaches the finish line brings more work for Canadians and more revenue for the public services we count on.

Canada also has other potential opportunities to develop LNG facilities in Manitoba, Quebec, and the Atlantic provinces. By supporting the development of our natural resources and the trade infrastructure to get them to market, Canadians can secure a stronger, more prosperous future for all.

Join Us Today

Join us today and hundreds of thousands of your fellow Canadians to learn more about the positive economic impact of LNG development in B.C. and across Canada!

Maximizing the value of our resources helps grow government revenues which fund our social programs. Why would anyone be against that? https://t.co/cMRVyylV7X

— LNG Action (@LNGAction) October 21, 2026

SOURCES:

_{1 - https://woodfibrelng.ca/wp-content/uploads/2026/10/Woodfibre-LNG-Economic-Impact-Assessment-2026.pdf}

_{2 - https://woodfibrelng.ca/news/2026/10/22/new-economic-impact-study-highlights-woodfibre-lngs-benefits-for-canada-and-b-c/}

_{3 - https://vancouversun.com/news/local-news/squamishs-woodfibre-lng-price-tag-balloons-to-us8-8-billion}

_{4 – https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2026/market-snapshot-overview-of-2025-canada-us-energy-trade.html}

_{5 – https://naturalgasintel.com/news/could-us-consumers-benefit-from-stable-canadian-natural-gas-prices-this-winter/}

_{6 - https://www.shell.com/what-we-do/oil-and-natural-gas/liquefied-natural-gas-lng/lng-outlook-2026.html}