LNG Canada Doubles Capacity as Asia Looks Beyond the Gulf

AI Summary

LNG Canada partners have approved a second-phase expansion that would double the facility’s capacity to 28 million tonnes per year. Alongside other projects under construction, the expansion is expected to help Canada supply Asian markets with substantially more LNG by the end of the decade.

Last month, Shell (NYSE:SHEL), alongside Malaysia's PETRONAS, China's PetroChina, Mitsubishi Corporation and KOGAS, officially approved the Final Investment Decision (FID) for the LNG Canada Phase 2 expansion project, doubling the facility's capacity to 28 million tons per annum (mtpa) and reinforcing the country's potential as a significant long-term supplier to Asian markets. Together with Cedar LNG and Woodfibre, both currently under construction, Canada is expected to export 33 mtpa of LNG by the end of the current decade.  According to…