Anwar: LNG Canada C$33bil expansion showcases Malaysia's expertise

KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) role in the C$33 billion LNG Canada expansion reflects confidence in Malaysia's expertise and capabilities, Prime Minister Datuk Seri Anwar Ibrahim said.

He said Petronas' ability to deliver the large-scale energy project with international partners demonstrated Malaysia's capacity to deliver major projects on the global stage.

His remarks came after LNG Canada's partners reached a final investment decision (FID) on Phase 2, which will double the facility's production capacity to 28 million tonnes a year.

"This decision paves the way for a private-sector investment worth C$33 billion.

"The expansion will make LNG Canada one of the largest liquefied natural gas (LNG) facilities in the world, further strengthening energy supplies to international markets," Anwar said in a post shared across his social media accounts.

He also congratulated the Petronas team on the milestone.

Anwar thanked Canadian Prime Minister Mark Carney for his support for Petronas and said he looked forward to meeting Carney and the Canadian delegation.

"I look forward to meeting Prime Minister Carney and the Canadian delegation in the future to strengthen our friendship and expand cooperation between Malaysia and Canada," he said.

The FID clears the way for LNG Canada to add two LNG processing units, known as trains, doubling its current annual production capacity of about 14 million tonnes.

Commercial operations are expected to begin in the early 2030s.

Petronas holds a 25 per cent stake in LNG Canada, while Shell owns 40 per cent. PetroChina Co Ltd and Mitsubishi Corp each hold 15 per cent, with Korea Gas Corp owning the remaining five per cent.

Located in Kitimat, British Columbia, LNG Canada is Canada's first large-scale LNG export terminal and its largest private-sector investment.