Wedoany.com Report-Sept. 21, Canada has approved a C$10 billion ($7.3 billion) floating facility to export liquefied natural gas (LNG) from its northwest coast, with operations expected to begin as early as 2028. The project, known as Ksi Lisims LNG, is supported by Western LNG, funded by Blackstone Inc., Rockies LNG Partners, and the Nisga’a Nation, which owns the land designated for development.

Ksi Lisims LNG is the first such major project to be approved under Prime Minister Mark Carney.

Ksi Lisims LNG marks the first large-scale export project cleared under Prime Minister Mark Carney. If investment decisions move forward, the facility will have an annual capacity of 12 million metric tons, positioning it as Canada’s second-largest LNG export site after the first phase of LNG Canada, led by Shell Plc, which began shipments to Asia in June.

Energy Minister Tim Hodgson welcomed the approval: “Ksi Lisims LNG is exactly the kind of development Canada’s new government is championing, advancing and approving. This approval sends a clear signal: Canada is open for business, and committed to the long-term strength of our responsible, low-carbon export and natural gas sectors.”

The project reflects recent measures by the Canadian government to streamline major developments. Earlier in September, Prime Minister Carney announced the creation of a Major Projects Office to accelerate approvals for projects viewed as critical to national interests. The office’s initial list of projects included the proposed second phase of LNG Canada, which would double that facility’s capacity.

Ksi Lisims LNG will be established as a floating terminal, aligning with the government’s broader strategy to diversify exports and strengthen energy infrastructure. If constructed, it would become a cornerstone of Canada’s LNG sector, offering additional export capacity to meet rising demand across global markets.

The backers of Ksi Lisims LNG bring significant financial and operational experience. Western LNG, based in Houston, has received support from asset management firm Blackstone. Rockies LNG Partners, headquartered in Alberta, includes several Canadian energy companies such as Birchcliff Energy Ltd, Tourmaline Oil Corp., and Whitecap Resources Inc. The Nisga’a Nation, an Indigenous group in British Columbia, is contributing land and support to the project, reflecting their role as a central partner.

Industry analysts noted that approval of Ksi Lisims LNG underlines Canada’s ambitions to strengthen its role as a reliable LNG supplier to Asia and other international markets. The project would build on the momentum created by LNG Canada’s first phase and complement other proposed developments on the Pacific coast.

Representatives of the Nisga’a Nation, Rockies LNG, and Western LNG were not available for comment outside standard business hours.