Canada Doubles Down on LNG Expansion with $23 Billion Investment
Canada's largest liquefied natural gas (LNG) export terminal, LNG Canada, has announced plans to double its capacity in a $23 billion expansion. The Phase 2 project will increase production to 28 million tons per year and make the facility the second-largest of its kind worldwide.
The expansion will involve adding two new LNG processing units, another storage tank, and an additional loading berth. It is expected to create up to 4,000 jobs at peak construction and nearly double the capacity of the TC Energy-operated Coastal GasLink pipeline.
Prime Minister Mark Carney stated that the project will make Canada's Pacific Coast a more attractive location for LNG exports compared to the US Gulf Coast due to its shorter shipping times to Asian markets.