LNG Canada announced on Tuesday an equity option agreement with MNT Investments, a limited partnership of the economic development organizations of five First Nations neighboring LNG Canada\u2019s operations: Gitga\u2019at First Nation, Gitxaa\u0142a Nation, Haisla Nation, Kitselas First Nation, and Kitsumkalum.<\/p>\n
According to the JV, the agreement provides MNT Investments the opportunity to invest up to C$1 billion to acquire a majority equity ownership interest in a special purpose entity that would purchase the planned LNG storage tank to be built as part of LNG Canada\u2019s proposed Phase 2 expansion. T<\/p>\n
The assets would then be leased back to LNG Canada for the operational life of the project. <\/p>\n
LNG Canada would continue to operate and maintain the facility, tank, and associated infrastructure. <\/p>\n
\u201cThe transaction would represent one of the largest Indigenous ownership positions in major Canadian infrastructure and a significant Indigenous investment in Canada\u2019s LNG sector,\u201d the JV said.<\/p>\n
The equity option agreement is conditional on LNG Canada\u2019s JVPs approving their proposed Phase 2 expansion in Kitimat, British Columbia, in the traditional territory of the Haisla Nation. <\/p>\n
LNG Canada and its JVPs continue to explore pathways for a potential Phase 2 expansion, which may include the construction of two additional LNG trains and increase the total plant capacity to up to 30 million tonnes per annum, it said.<\/p>\n
LNG Canada confirmed that a final investment decision for Phase 2 is being targeted by the end of 2026.<\/a><\/p>\n More than 100 cargoes<\/p>\n The JV noted that it has shipped over 100 LNG cargoes<\/a> since operations began on June 30, 2025. <\/p>\n Shell and its partners\u00a0started production<\/a>\u00a0at the first liquefaction train in June 2025.<\/p>\n In November last year, the partners\u00a0launched\u00a0<\/a>the second liquefaction train at the 14 mtpa LNG export plant in Kitimat.<\/p>\n LNG Canada\u00a0announced<\/a>\u00a0the departure of the 25th cargo during the same month. The facility\u00a0shipped<\/a>\u00a0the 50th cargo in February this year.<\/p>\n At 40 percent, Shell has the largest working interest in the LNG Canada JV.<\/p>\n