Petronas-backed LNG Canada eyes RM86bil expansion
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas)-backed LNG Canada is reportedly preparing to proceed with a C$30 billion (about RM86.30 billion) expansion that could double its annual liquefied natural gas (LNG) production capacity to as much as 30 million tonnes.
KUALA LUMPUR: According to The Globe and Mail, Petroliam Nasional Bhd (Petronas)-backed LNG Canada is preparing to embark on a C$30 billion (approximately RM86.30 billion) expansion that would double its current annual liquefied natural gas (LNG) production capacity to 30 million tonnes. Canadian sources reported that the project's partners plan to announce their intentions to proceed with the expansion.
Petronas, which holds a 25% stake in LNG Canada, is set to partner with Shell, Shell holds 40%, PetroChina Co Ltd and Mitsubishi Corp each contribute 15%, and Korea Gas Corp owns the remaining 5%. This expansion comes as global demand for LNG continues to rise. Petronas has not yet commented on the matter. Earlier this year, the national oil company stated that a final investment decision on LNG Canada Phase 2 was anticipated in 2026, with the project's president and group chief executive officer, Tengku Tan Sri Muhammad Taufik, expressing the partners' eagerness to advance the expansion and their ongoing work on engineering and cost assessments.
Situated in Kitimat, British Columbia, LNG Canada is Canada's first major LNG export terminal and the country's largest private-sector investment. The facility made its first export shipment in June 2025, currently producing around 14 million tonnes annually.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
