Carney says LNG Canada expansion offers ‘secure’ supply for Asia, Europe
Prime Minister Mark Carney announced a $33 billion investment for the Phase 2 expansion of the LNG Canada facility in Kitimat, British Columbia. The project aims to provide secure energy supplies to global markets while creating thousands of jobs.
Why it matters
Large-scale energy infrastructure projects are critical to national economic strategy and global energy security, though they often face scrutiny regarding environmental standards.
Canada’s Prime Minister Mark Carney announced in Vancouver on Tuesday that LNG Canada is moving forward with the Phase 2 expansion project in Kitimat, B.C.
“Today’s $33 billion investment in LNG Canada 2 will make LNG Canada the second-largest facility of its kind in the world. It will create thousands of new jobs,” Carney said.
“It will connect low-cost, low-carbon Canadian energy to global markets, providing the secure supply our partners in Asia and Europe need.”
The expansion comes as global energy markets have been in turmoil amid the war in the Middle East and the closures of the Strait of Hormuz over recent months, sending prices soaring.
Carney added that this is a “great” day for Canada.
“The scale of this investment shows it,” he said.
“The partnership proves it. The speed confirms it. Canada is working. Canada is building big again”
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