LNG Canada Phase 2 Receives Final Investment Decision, Unlocking $33-Billion Private Sector Investment
Canada is accelerating major projects to unlock its resources and connect its economy with global markets. Prime Minister Mark Carney welcomed a significant milestone as LNG Canada reached a final investment decision on its Phase 2 expansion project in Kitimat, British Columbia.
The $33-billion private sector investment will make LNG Canada the second-largest facility of its kind in the world and strengthen Canada's trade ties across the Indo-Pacific. The project will create more than 4,000 direct jobs in the construction phase alone and has already awarded nearly $5 billion in contracts to First Nations and local businesses.
LNG Canada's Phase 2 project is being developed in full partnership with Indigenous Peoples and will leverage Canada's clean electricity advantage, reducing greenhouse gas emissions compared to similar facilities worldwide. The Prime Minister also welcomed TC Energy's final investment decision on the Coastal GasLink (CGL) Phase 2 project, which will double the pipeline's capacity.
The projects demonstrate confidence in Canada's competitive investment environment and its ability to get major projects built. 'We are building our strength at home, securing new trade partners abroad, and catalysing unprecedented levels of new investment in our major projects,' Prime Minister Carney said.