Canada to Double LNG Capacity as Part of $60B National Project Push

Canadian Prime Minister Mark Carney announced on Thursday the first five major projects recommended for approval under the newly established Major Projects Office (MPO), covering liquefied natural gas (LNG), nuclear energy, ports, and minerals, with total investments exceeding C$60 billion. The move is seen as a key strategy by the federal government to bolster economic resilience amid the ongoing U.S.-China trade war.

The five approved projects span the country:

1. LNG Canada Phase 2 (British Columbia): Will double Canada’s LNG production capacity. While the previous government denied the commercial viability of exporting Canadian LNG to Europe, the Carney administration has actively promoted it to new markets like Germany.
2. Darlington New Nuclear Project (Ontario): Upon completion, Canada will become the first G7 country to operate a small modular reactor (SMR).
3. Contrecœur Terminal Container Project (Quebec): Will expand the Port of Montréal’s capacity by approximately 60%.
4. McIlvenna Bay Foran Copper Mine Project (east-central Saskatchewan).
5. Red Chris Mine Expansion (northwestern British Columbia).

Carney stated that these projects would unleash the bounds of Canada’s imagination, leveraging federal funds to attract multiples of private investment. He emphasized that at this transformative moment, the government is committed to connecting communities, empowering workers, and strengthening the nation through major projects. The first batch of initiatives marks the start of efforts to build big and build Canada strong.

Additionally, the government unveiled five categories of potential projects in early planning stages, including wind power in Nova Scotia, a carbon capture, utilization, and storage (CCUS) project in Alberta, an Arctic Economic Security Corridor in the North, the Port of Churchill upgrade in Manitoba, and a high-speed rail line connecting Toronto and Québec City (Canada’s first high-speed railway).

Notably, pipeline projects were excluded from the first phase. Carney stressed that any future pipeline would need to align with climate objectives, and no private company has yet proposed specific plans. The government stated it would support pipeline development if consensus is reached but would require a decarbonization plan.

Carney confirmed that a second round of major projects will be announced in November.

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