🚨🚨🚨This is huge!!! 🚨🚨🚨
Fantastic news for the Canadian economy!!
Between phases one and two, this is the single largest investment in Canadian economic history.
And that doesn’t even account for the tens of $ billions in gas exports, plus upstream production jobs.
Plus more demand for Canadian (including Alberta) gas will mean finally getting a higher price for our energy.
Win-win-win
Woke up to the great news of the LNG Canada Phase 2 FID.
🇨🇦 $33 billion private investment from the same partners as Phase 1 (ie no one wanted to withdraw): Shell, KOGAS (Korea), Petronas (Malaysia); Mitsubishi (Japan) and PetroChina
🇨🇦 LNG Canada will double from 14 to 28 Mtpa. At full build-out, it is expected to be the second-largest LNG facility in the world.
🇨🇦 Canada shipped its first large-scale LNG cargo only last year. By the early 2030s, we will be a top-five global LNG exporter (+Cedar, Woodfibre and hopefully Ksi Lisims).
🇨🇦 4000 jobs for the LNG terminal in Kitimat, 2100 on the CGL pipeline expansions
🇨🇦 $1 billion Indigenous equity option on the LNG storage tank