Shell has approved a $23 billion expansion of Canada’s flagship LNG project, strengthening Prime Minister Mark Carney’s effort to position the country as a global energy supplier.
The Pacific Coast project is expected to supply Asian markets, with expanded operations scheduled to begin in the early 2030s. The investment comes as global energy markets face disruptions linked to the U.S.-Iran war and efforts by Ukraine-aligned countries to reduce reliance on Russian gas.
The Canadian government estimates the project will create thousands of jobs and attract about C$33 billion in private investment. Carney has promoted Canada as an “energy superpower” while Ottawa seeks to reduce its economic dependence on the United States amid trade tensions with President Donald Trump.
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Shell backs $23 billion LNG Canada expansion in boost to Carney's ‘energy superpower’ push https://t.co/m3XKoLqRwZ
— CNBC (@CNBC) September 29, 2026
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