Shell and its partners on Tuesday gave the green light to a LNG Canada Phase 2 expansion in Kitimat, British Columbia, a C$33 billion bet that will double the facility’s production capacity to 28 million tonnes per annum (mtpa) and put Canada on a trajectory to become one of the world’s largest LNG exporters.
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The expansion will add two additional liquefaction trains, increasing LNG Canada’s total export capacity from 14 mtpa to roughly 28 mtpa.
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Shell, which holds a 40% stake in the joint venture, said it expects to receive nearly 6 mtpa of additional LNG from the expansion, with commercial operations targeted for the early 2030s.
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The C$33 billion investment will make LNG Canada the second-largest facility of its kind in the world, said Prime Minister Mark Carney
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A decision on the project was expected as early as October, Reuters had exclusively reported earlier this month.
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LNG Canada, a joint venture led by Shell and backed by Malaysia’s Petronas PETR.KL, PetroChina, Mitsubishi Corp and Korea Gas Corp (KOGAS), is Canada’s first large-scale LNG export terminal and one of the country’s largest private-sector investments.
source: reuters.com