Independent assessment projects billions in economic activity, labour income and government revenue as the project advances toward completion

VANCOUVER, BC, Oct. 22, 2026 /CNW/ -- The construction of the first net-zero LNG export facility in Squamish has contributed nearly $13.6 billion in economic output to the Canadian economy and is set to generate an additional $11.6 billion in government revenue over its planned 40-year operating period, according to a new report by Canadian strategy and research firm Deetken Insight.

The study examines the economic ripple effects generated by the investment in constructing and operating both the Woodfibre LNG facility and FortisBC's Eagle Mountain Pipeline. It estimates that construction activity alone will generate:

• $13.6 billion in total economic output across Canada
• Nearly $7 billion in Canadian GDP
• $3.6 billion in labour income
• More than 52,000 modelled employment-years, and more than 15,000 total direct and indirect jobs

The assessment also projects that the project and associated activity could generate approximately $11.6 billion in nominal government revenue over the construction and 40-year operating period, including approximately $6.8 billion for British Columbia, and $485 million in nominal property taxes at the Municipal level, over the construction and 40-year operating period from the Woodfibre LNG facility and associated Eagle Mountain Pipeline. That revenue is projected to come from sources including resource royalties, income taxes, carbon tax, property tax, motor fuel tax and provincial sales tax.

"Woodfibre LNG has yet to produce its first shipment of LNG, but the project is already delivering significant economic benefits to British Columbia and Canada," said Luke Schauerte, President and CEO of Woodfibre LNG. "We're generating jobs, supporting businesses, creating opportunities for First Nations and contributing to economic growth in communities across the province and country today. These benefits are already being realized, and they represent just the beginning of the economic contribution Woodfibre LNG will make over the next 40 years."

The project also includes hiring and contracting priorities for Squamish Nation members, other Indigenous peoples, District of Squamish residents and other British Columbians.

Beyond the immediate economic benefits shown in the study, Woodfibre LNG has made both an economic and environmental impact through the $50 million investment in the extensive cleanup and remediation of the prior Woodfibre pulp mill site. Also outside the scope of this study were the positive and ongoing impacts of community grants and contributions Woodfibre has already made, through its Community Partnership Program and other initiatives, such as the near million dollar donation towards the purchase of a new CT scanner for the Squamish General Hospital.

These types of philanthropic efforts and community support commitments are expected to continue for the lifecycle of the project, not just its construction phase.

"Economic growth can sometimes seem like an abstract concept, but in Woodfibre's case it's being seen on the ground." Schauerte said. "It's led to jobs, a much-needed cleanup of a contaminated brownfield site, more opportunities for businesses and First Nations, and support for some amazing non-profits. We see that impact as a core part of our mission, and part of the privilege of operating in this region."

Woodfibre LNG is currently approximately 75 per cent complete, with construction completion expected in in mid-2027.

About Woodfibre LNG

The Woodfibre LNG Project is a liquefied natural gas (LNG) facility that will produce 2.1 million tonnes of LNG for export annually, being built near the community of Squamish on the traditional territory of the Sḵwx̱wú7mesh Úxwumixw (Squamish Nation). The Woodfibre LNG Project is owned by Woodfibre LNG Limited Partnership, owned 70 per cent by Pacific Energy Corporation (Canada) Limited and 30 per cent by Enbridge Inc.

Woodfibre LNG is the first industrial project in Canada to recognize a non-treaty Indigenous government, Squamish Nation, as a full environmental regulator. The Woodfibre LNG facility will be the world's first net zero LNG facility when it is completed in 2027.

SOURCE Woodfibre LNG