The Squamish Nation has approved an agreement with Woodfibre LNG that could be worth more than $1.1 billion over the next four decades while giving the $1.8-billion project the Nation's approval to move forward.
In an eight-to-six vote, councillors with the Squamish Nation okayed impact benefit agreements with Woodfibre LNG, FortisBC and the province of British Columbia, part of its internal process for assessing impacts and benefits of the project. According to a press release, approval by the Squamish Council includes compliance by the project proponents with legally binding conditions issued under the Squamish Nation's environmental assessment process.
Woodfibre LNG Vice President, Corporate Affairs, said the company was pleased to meet the Squamish Nation's environmental certificate conditions.
"The Woodfibre LNG Project is the first industrial project to undergo Squamish Nation's groundbreaking environmental assessment process - and is the first industrial project in Canada to be awarded an environmental certificate by an Indigenous government," Giraud said. "We believe the Squamish Nation process and the resulting conditions are an important pathway to economic reconciliation. We continue to work to meet all Squamish Nation conditions for the Woodfibre LNG Project. These conditions include co-authoring environmental management plans and Squamish Nation environmental monitoring through construction, operation and decommissioning of the Woodfibre LNG Project."
The Squamish nation will share economic benefits from the project to be constructed just outside of Squamish, B.C., including revenue payments, jobs and training, and contract opportunities.