Sukanto Tanoto efforts by oil and gas entities reduce opportunities for Russian-Ukrainian conflict

Bisnis.com, JAKARTA – Amid growing demand for natural gas, especially from Europe, due to the conflict between Ukraine and Russia, the entity owned by Sukanto Tanoto plans to increase its expansion in the oil and gas sector in Canada.

As reported by Bloomberg, Wednesday (3/23/2022), Woodfibre LNG plans to spend US$500 million to develop a liquefied natural gas project in Canada.

Meanwhile, Woodfibre LNG is an oil and gas company based in Vancouver, British Columbia, Canada. The company is a subsidiary of a company owned by Sukanto Tanoto, namely Pacific Energy Corp.

Before giving birth, the name changed to Pacific Energy Corp., the Singapore-based company was called Pacific Oil and Gas.

However, Woodfibre LNG has not officially announced its investment decision. However, based on documents obtained by Bloomberg, Woodfibre President Christine Kenedy reported details of the expenses to officials in Squamish County, British Columbia. In the budget report, Woodfibre expects to shell out $500 million this year.

Woodfibre LNG’s plan follows Shell Plc’s decision. to build a $40 billion Canadian liquefied natural gas (LNG) project in Kitimat, British Columbia.

Zera Carpenter

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