Prime Minister Mark Carney is in Vancouver on Tuesday to announce federal measures related to Canada’s energy industry after LNG Canada said it will proceed with its Phase 2 LNG expansion in Kitimat, B.C.
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Prime Minister Mark Carney is in Vancouver on Tuesday to highlight what his itinerary describes as “an historic investment” in Canada’s energy industry.
Carney’s announcement comes after LNG Canada said earlier Tuesday that it will go ahead with the multibillion-dollar Phase 2 expansion of its liquefied natural gas export terminal in Kitimat, B.C.
LNG Canada said the Phase 2 project will double its export capacity from 14 to 28 million tonnes of liquefied natural gas per year, making it one of the world’s largest LNG facilities.
The expansion is also described as one of five first developments referred to Ottawa’s major projects office last year.
The federal government said the project is expected to attract $33 billion worth of private sector capital to Canada, while LNG Canada estimated the expansion could generate more than $50 billion in government revenues over its lifetime.
Carney is also expected to announce new measures to protect Canada’s oceans.
A press conference is scheduled for 11 a.m. PT in Vancouver.
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