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Home / 2018 / Squamish Nation reaches economic benefit agreements for LNG project
Squamish Nation reaches economic benefit agreements for LNG project

Squamish Nation reaches economic benefit agreements for LNG project

The Squamish Nation Council has reached a series of economic benefit agreements for the Woodfibre LNG project.

If the LNG terminal in Howe Sound gets built, the agreements with Woodfibre, FortisBC, and the provincial government will mean $225.65 million for the Squamish Nation over a 40-year term.

The deals also include hundreds of millions worth of contract opportunities for Squamish Nation businesses and member-owned businesses as well as the transfer of 422 hectares of land.

Approval of the agreements by the First Nation is contingent on environmental conditions being met.

“Communities are sometimes faced with difficult decisions and it is recognized that this was a difficult decision for many,” says Khelsilem, Elected Councillor and Spokesperson for Squamish Nation.  “Next steps will be holding the proponents accountable for the life of the project and beyond; that includes the construction, operation and eventual decommissioning of Woodfibre LNG.   As agreed by the proponents, we will be co-developing management plans for the project and will have our own monitors on the ground to report any non-compliance with environmental, cultural, employment, and training conditions.”

The Squamish Nation has given its approval for the Woodfibre project to proceed by a narrow eight to six council vote.

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