Commodities
Shell Greenlights $23 Billion LNG Canada Expansion
Shell has given the green light to its $23 billion LNG Canada expansion project in British Columbia, Canada. The move is a significant boost to Prime Minister Mark Carney's ambition to make Canada an 'energy superpower'.
The project will double production capacity at the LNG Canada facility in Kitimat to 28 million metric tons per annum (mtpa), up from 14 mtpa. Shell leads the joint venture with a 40% stake, alongside partners Petronas, PetroChina, Mitsubishi Corp, and Korea Gas Corp.
The investment is expected to make Canada one of the world's leading LNG exporting nations, supplying key customers in Asia at a time when global supplies have been disrupted by the U.S.-Iran war. Commercial operations are set to start in the early 2030s.