Anwar: LNG Canada C$33bil expansion showcases Malaysia's expertise
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) role in the C$33 billion LNG Canada expansion reflects confidence in Malaysia's expertise and capabilities, Prime Minister Datuk Seri Anwar Ibrahim said.
Prime Minister Anwar Ibrahim highlighted the significance of Petroliam Nasional Bhd's (Petronas) involvement in the C$33 billion LNG Canada expansion, emphasizing Malaysia's expertise and capabilities. Petronas' ability to manage the large-scale energy project with international partners demonstrated Malaysia's capacity to undertake major projects globally.
Following LNG Canada's partners reaching a final investment decision (FID) on Phase 2, the company's production capacity will double to 28 million tonnes annually. This expansion makes LNG Canada one of the world's largest liquefied natural gas (LNG) facilities, enhancing energy supplies to international markets. Anwar congratulated the Petronas team on this milestone and thanked Canadian Prime Minister Mark Carney for his support, expressing his eagerness to meet Carney and the Canadian delegation to bolster friendship and cooperation between Malaysia and Canada.
The FID clears the way for LNG Canada to add two LNG processing units, doubling its current annual production capacity of around 14 million tonnes. Commercial operations are anticipated to commence in the early 2030s. Petronas owns a 25% stake in LNG Canada, with Shell, PetroChina Co Ltd, Mitsubishi Corp, and Korea Gas Corp holding 40%, 15%, 15%, and 5% respectively.
Located in Kitimat, British Columbia, LNG Canada is Canada's first major LNG export terminal and its largest private-sector investment.
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