Canada’s Pacific Canbriam boosts Montney position
Pacific Canbriam Energy, a subsidiary of Pacific Energy, the Canadian arm of the Singapore-based RGE group of companies, said August 18 it had completed the acquisition of an additional 47,025 net acres of Montney rights in northeast BC.
The acquisition increases Pacific Canbriam’s Montney holdings by 26%, to 224,805 net acres, and solidifies its position to supply Asian markets with clean natural gas.
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“This land acquisition complements our existing Montney development and supports our long-term LNG requirements,” CEO Paul Myers said. “Pacific Canbriam will help supply clean, responsibly-produced natural gas for export to Asian markets.”
Pacific Canbriam will supply feed gas to Pacific Energy’s Woodfibre LNG project under development at Squamish, north of Vancouver. Fully-electric using renewable hydroelectricity, the 2.1mn mt/yr Woodfibre facility will produce 80% fewer emissions than comparable gas-powered liquefaction facilities when it enters service in 2027.