Carney to Attend LNG Canada Expansion Announcement

Prime Minister Mark Carney will attend the announcement in Vancouver on Tuesday morning where LNG Canada will confirm its plans to move ahead with phase two of the massive liquefied natural gas export project.

The first phase cost over $40 billion and was the largest private sector investment in Canadian history. The second phase won't be as expensive, but is still expected to cost over $20 billion and will double the export capability of the project to 28 million tonnes per annum.

According to Shell Canada's gas president Cederic Cremers, the project will help diversify global gas supplies at a time when many countries are looking for new options. 'Phase 2 supports Shell's strategic objective to be the world's leading integrated gas and LNG business', Cremers said.