Petronas Finalises Investment in LNG Canada Phase 2, Unlocking CA$33 Billion in Potential Investment – PM Anwar

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim announced that Petroliam Nasional Bhd (Petronas), together with its joint venture partners, has finalised the investment decision for Phase 2 of the LNG Canada project in Kitimat, British Columbia.

He said the decision paves the way for CA$33 billion in private-sector investment.

“This expansion is set to make LNG Canada one of the world’s largest liquefied natural gas facilities, while strengthening energy supplies to international markets.

“Congratulations to the entire Petronas team on this achievement. The ability of our national company to undertake a large-scale energy project with international partners also reflects confidence in Malaysia’s expertise and capabilities,” he said in a post on social media platform X today.

Anwar, who is also Finance Minister, expressed his appreciation to Canadian Prime Minister Mark Carney for his support for Petronas.

“I look forward to meeting Prime Minister Carney and the Canadian delegation in the future to strengthen our friendship and expand Malaysia-Canada cooperation,” he said.

BERNAMA