Shell-led LNG Canada to proceed with Phase 2 expansion, doubling export capacity
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Shell (SHEL) and its partners announced on Tuesday a final investment decision on LNG Canada Phase 2, which will double production capacity at the facility in Kitimat, British Columbia, and place Canada on a trajectory to become one of the world's largest exporters of liquefied natural gas.
Phase 2 will add two liquefaction trains, increasing LNG Canada's total export capacity from 14M metric tons/year to 28M tons/year, with commercial operations expected to begin in the early 2030s.
Shell (SHEL), which holds a 40% stake in the joint venture, said it expects to receive nearly 6M tons/year of additional LNG from the expansion; the other JV partners are Malaysia's Petronas, PetroChina, Japan's Mitsubishi, and Korea Gas.
LNG Canada Phase 2 is on the list of five major projects of national importance, which Prime Minister Carney proposed last year to diversify Canada's energy exports from the U.S. and make it an energy superpower.
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