PM Mark Carney delivers remarks at energy summit in Vancouver, BC

At 29:30 in the above video, the Prime Minister highlights on an historic investment in Canada’s energy industries.

Prime Minister’s news release:

In September 2025, Canada’s government referred LNG Canada Phase 2 to the Major Projects Office (MPO). Since then, the project has received dedicated support from the MPO to quickly and efficiently move toward an investment decision and the start of construction, including through partnerships with British Columbia and industry partners.

Today, the Prime Minister, Mark Carney, welcomed a significant milestone as LNG Canada reached a final investment decision (FID) on its Phase 2 expansion project in Kitimat, British Columbia. This decision unlocks a transformative $33-billion private sector investment that will make LNG Canada the second-largest facility of its kind in the world and strengthen Canada’s trade ties across the Indo-Pacific. Located on the traditional territory of the Haisla Nation, Kitimat benefits from access to abundant, low-cost Canadian natural gas and an ice-free harbour – connecting low-carbon Canadian energy to global markets and providing a secure supply of liquefied natural gas (LNG) to partners in Asia and Europe.

LNG Canada’s Phase 2 project will create more than 4,000 direct jobs in the construction phase alone and is being developed in full partnership with Indigenous Peoples. To date, the project has awarded nearly $5 billion in contracts and procurement to First Nations and local businesses across the region. Additionally, leveraging Canada’s clean electricity advantage, greenhouse gas emissions from LNG Canada’s Kitimat operation are expected to be lower than those of any facility of a similar size operating in the world today.

As a direct result of LNG Canada’s FID, the Prime Minister also welcomed TC Energy’s FID on the Coastal GasLink (CGL) Phase 2 project. This multi-billion-dollar investment will double the Coastal GasLink pipeline’s existing capacity by adding new compressor stations and upgrading facilities along the existing 670-kilometre route that brings natural gas from Dawson Creek to the LNG Canada facility. This project will allow Canada to maximise the value of the Western Canada Sedimentary Basin, one of the most prolific natural gas resource basins on the planet. CGL Phase 2 will strengthen Canada’s supply of reliable, affordable, and secure energy to global markets through LNG Canada Phase 2, while creating long-term value for Indigenous and local communities, customers, and shareholders. Construction will begin next year and is expected to create over 2,000 jobs.

Canada’s government is focused on building a stronger Canadian economy – one that is more independent, prosperous, and resilient to global shocks. LNG Canada’s investment decision demonstrates confidence in Canada’s competitive investment environment, our talent and expertise, and our ability to get major projects built.

Facts:

  • LNG Canada is a joint venture company comprised of Shell Canada (40%), PETRONAS (25%), PetroChina (15%), Mitsubishi Corporation (15%), and KOGAS (5%). These global partners bring technical expertise, natural gas supply, and direct access to international trade networks.
  • The cumulative value of the project’s contracts and subcontracts to local, Indigenous and other businesses in British Columbia continues to grow, including more than $4.9 billion to Indigenous-owned and local area businesses.
  • LNG Canada’s decision builds directly on the success of its Phase 1 project, which began exporting low-carbon LNG in June 2025 – the first time LNG was ever exported from Canada directly to customers. LNG Canada Phase 2 will double the terminal’s capacity to 28 million tonnes annually.
  • The Phase 2 expansion project advances historic Indigenous equity opportunities through an agreement with MNT Investments LP – representing the Gitga’at, Gitxaała, Haisla, Kitselas, and Kitsumkalum Nations. This agreement grants the five First Nations an option to invest up to $1 billion to acquire a majority ownership stake in the facility’s new 225,000-cubic-metre Phase 2 LNG storage tank. This sale-leaseback structure ensures long-term revenue streams for local communities, establishing First Nations as core infrastructure owners and long-term economic partners on the North Coast.
  • By displacing coal-fired power generation in overseas markets, the project directly supports international climate goals while expanding Canadian low-carbon energy exports.
  • Over the course of its lifetime, Coastal GasLink has awarded more than $1.8 billion in contracts to Indigenous and local businesses and invested more than $13 million in local communities, non-profits, and sponsorships. Construction on Phase 1 created over 25,000 jobs and was completed with the support of 20 Indigenous communities along the project route, with long-term agreements that remain in place and continue to provide benefits.
  • As a convener and single point of contact to get projects of national interest built efficiently and effectively, the MPO brings together people and processes to establish clear pathways through federal processes. The MPO’s team combines public and private sector experience, supported by federal government departments and agencies to support prudent decision-making by proponents, Indigenous Peoples, investors, and governments.

Last Updated on 2026-09-29 15:36 EDT