Carney set to make energy announcement in Vancouver
Carney's announcement comes after LNG Canada said earlier Tuesday that it will go ahead with the multibillion-dollar Phase 2 expansion of its liquefied natural gas export terminal.
Prime Minister Mark Carney is set to make a significant energy announcement in Vancouver on Tuesday. The focus of his visit is described as an "historic investment" in Canada's energy sector. This comes after LNG Canada confirmed they will proceed with the Phase 2 expansion of their liquefied natural gas (LNG) export terminal in Kitimat, British Columbia.
The expansion will double the terminal's export capacity from 14 to 28 million tonnes of liquefied natural gas per year, transforming it into one of the world's largest LNG facilities. The federal government projects this expansion will attract $33 billion in private sector investment to Canada. LNG Canada anticipates that the expanded facility could generate over $50 billion in government revenues throughout its lifetime.
In addition to the energy announcement, Carney is expected to unveil new measures aimed at protecting Canada's oceans. His press conference is scheduled to commence at 11 a.m. Pacific Time, and this report will be updated following his announcement.
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