Shell approves C$33 billion LNG Canada expansion

 Shell and its partners approved the LNG Canada Phase 2 expansion on Tuesday, committing C$33 billion to double the facility's production capacity in Kitimat, British Columbia.

The expansion will add two liquefaction trains to the facility, raising total export capacity to 28 million tonnes per annum from 14 mtpa.

Shell holds a 40% stake in the joint venture and expects to receive nearly 6 mtpa of additional LNG from the expansion. The company targets commercial operations for the early 2030s.

Prime Minister Mark Carney said the C$33 billion investment will make LNG Canada the second-largest facility of its kind globally.

"The decision to move ahead with LNG Canada Phase II sends an important message to businesses, investors and customers here and around the world: Canada can and will deliver. We are moving from ambition to action. With moves like this, we are increasing our competitiveness and unlocking our economic potential to create good jobs, strengthen communities and economic security," said Candace Laing, President and CEO, Canadian Chamber of Commerce.

The joint venture partners include Malaysia's Petronas Chemicals Group Bhd (KL:PCGB), PetroChina, Mitsubishi Corp. (TYO:8058), and Korea Gas Corp. LNG Canada represents the country's first large-scale LNG export terminal and ranks among Canada's largest private-sector investments.

The expansion positions Canada to become one of the world's largest LNG exporters.

https://finance.yahoo.com/energy/articles/shell-approves-c-33-billion-192811795.html