Cyprus News Agency

Canadian Prime Minister Carney commented on LNG Canada's final investment decision for Phase 2 of its expansion project in the Kitimat region of British Columbia.

Carney said the decision would pave the way for C$33 billion in private-sector investment and make LNG Canada the world's second-largest liquefied natural gas (LNG) facility. The project was said to contribute to strengthening Canada's trade ties with the Indo-Pacific region.

The project is expected to create more than 4,000 direct jobs during the construction phase, while the work will be carried out in partnership with Indigenous peoples. It was reported that contracts and public procurement worth approximately C$5 billion have so far been carried out with Indigenous peoples and companies in the region under the project.

Under LNG Canada Phase 2, the terminal's capacity is planned to double to 28 million tonnes per year. Thanks to Canada's advantage in clean electricity generation, the project is expected to have lower greenhouse gas emissions than existing facilities of a similar size.

Carney also commented on TC Energy's final investment decision for Phase 2 of the Coastal GasLink pipeline following LNG Canada's investment decision. Under the multibillion-Canadian-dollar investment, the capacity of the 670-kilometer pipeline is planned to double through compressor stations and upgrades to existing facilities.

Construction work on Coastal GasLink Phase 2 is expected to begin next year and create more than 2,000 jobs.

Carney said the LNG Canada investment demonstrated confidence in Canada's ability to deliver large-scale projects, its investment environment and its energy sector.