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Government of Canada investing $275M in $40B Kitimat LNG complex

The Government of Canada is investing $275 million to support LNG Canada’s major liquefied natural gas (LNG) complex in Kitimat, British Columbia. This $40-billion project represents the largest single private sector investment in the history of the country.

The federal investment will include $220 million to help fund highly energy-efficient gas turbines for LNG Canada, minimizing both greenhouse gas emissions and fuel use. The additional $55 million will be for the replacement of the Haisla Bridge in the District of Kitimat to support and service existing and increased traffic in the region.

The LNG project includes a liquefaction facility, a 670 km pipeline from Dawson Creek and a marine terminal. LNG Canada received required regulatory approvals in 2015 and is the first Canadian LNG project to reach a final investment decision.

Construction activities began in October 2018, with a target in-service date of the middle of the next decade.

At full capacity, the terminal will convert and export as much as 26 million tons of LNG per year, primarily to Asia. This represents roughly 20% of overall gas production in Canada.

The $220-million investment is being made through the Strategic Innovation Fund. The Strategic Innovation Fund is designed to attract and support high-quality business investments in Canada’s most dynamic and innovative sectors.

The $55-million investment for the replacement of the Haisla Bridge is being made through Western Economic Diversification Canada.

Comments

HarveyD

Together with the new expanded Trans-Mountain oil pipeline, this LNG project will greatly expand Canada's export of Oil and NG to Asia, at a much higher price than to USA.

Canada and Canadians will Financially benefit by 2024 and thereafter.

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