Shell said in a statement<\/a> on Tuesday that it had reached a final investment decision to double production capacity at the LNG Canada project in Kitimat, British Columbia, to roughly 28 million metric tons per annum (mtpa), up from 14 mtpa.<\/p>\n Shell leads the LNG Canada project with a 40% stake. The joint venture also has the backing of Malaysia’s Petronas, China’s PetroChina, Japan’s Mitsubishi Corp and South Korea’s state-owned Korea Gas Corp.<\/p>\n The long-awaited investment is expected to put Canada on course to become one of the world’s leading LNG exporting nations at a time when global supplies have been significantly disrupted<\/a> by the U.S.-Iran war \u2014 and as countries aligned with Ukraine push to reduce dependence<\/a> on Russian gas. <\/p>\n Located on Canada’s Pacific coast, the project is positioned to supply LNG to key customers in Asia, with commercial operations set to start in the early 2030s.<\/p>\n “LNG Canada is a core part of our Integrated Gas portfolio, helping to supply LNG to customers in Asia at a time when diversity of energy supplies and energy security are increasingly important,” said Cederic Cremers, Shell’s integrated gas president. <\/p>\n “Phase 2 supports Shell’s strategic objective to be the world’s leading integrated gas and LNG business by connecting Canadian resources with Shell’s global LNG portfolio, trading capability and customer reach,” he added. <\/p>\n Stock Chart IconStock chart icon London-listed shares of Shell so far this year.<\/p>\n LNG Canada, meanwhile, described<\/a> the investment as a “nation-building investment” that will “further strengthen Canada’s role as a trusted energy partner.” <\/p>\n Canada’s government has previously estimated<\/a> that the LNG Canada project will create thousands of jobs and attract 33 billion Canadian dollars ($23.2 billion) in private sector capital. <\/p>\n Carney, who campaigned in 2025 to turn Canada into a “global energy superpower,” has sought to showcase<\/a> Ottawa as a stable energy partner. The Canadian government is currently locked in a trade feud<\/a> with the Trump administration and is seeking to reduce its reliance on the U.S.<\/p>\n Shell’s London-listed shares traded nearly 1% lower on Tuesday. The stock is up more than 32% year-to-date.<\/p>\n","protected":false},"excerpt":{"rendered":"Electric tugs docked alongside an LNG carrier being loaded at the LNG Canada docks in Kitimat, British Columbia,…\n","protected":false},"author":2,"featured_media":914155,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[315465,4615,45,161,49,48,4717,295,202224,212096,32557,714,78865],"class_list":["post-914154","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-ng26x","tag-breaking-news-politics","tag-business","tag-business-news","tag-ca","tag-canada","tag-energy","tag-environment","tag-ishares-global-energy-etf","tag-mitsubishi-ufj-financial-group-inc","tag-oil-and-gas","tag-politics","tag-shell-plc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/914154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=914154"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/914154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/914155"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=914154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=914154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=914154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
<\/p>\n