Shell sees strong case for second phase of LNG Canada after conversations with governments
Shell CEO Wael Sawan said recent discussions with the Canadian and B.C. governments have increased the likelihood of proceeding with the second phase of the LNG Canada export terminal in Kitimat, which would double its capacity to 28 million tonnes annually. The comments follow Shell’s US$16.4-billion acquisition of Calgary-based ARC Resources, a major Montney basin producer, securing key natural gas supply for the potential expansion. While no final investment decision has been made, the project is among those under fast-track review by the federal government. Analysts view the ARC purchase as a strong signal that LNG Canada Phase 2 is moving closer to realization.
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Open this photo in gallery:A tanker fills up at an LNG Canada facility in Kitimat, B.C., on Nov. 13.ETHAN CAIRNS/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountConversations with the federal and British Columbia governments have “raised the likelihood” of the LNG Canada export terminal expansion in Kitimat, B.C., says Wael Sawan, Shell PLC’s SHEL-N chief executive, with a decision on the project expected in the coming months.Mr. Sawan’s comments come on the heels of Shell’s announcement Monday that it is buying Calgary-based ARC Resources Ltd. – the largest pure-play producer in the Montney basin, which straddles Alberta and northeast British Columbia.
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