LNG Canada Secures C$1B Investment for Phase 2 Expansion Storage Tank
LNG Canada has signed an agreement with MNT Investments LP for up to C$1 billion to fund a majority stake in a special purpose entity that will purchase a storage tank for the proposed Phase 2 expansion. A final investment decision on the expansion is targeted by the end of 2026.
LNG Canada has entered into an agreement with MNT Investments LP for the proposed Phase 2 expansion of its liquefied natural gas facility. Under the deal, MNT will invest up to C$1 billion in exchange for a majority stake in a special purpose entity (SPE).
The SPE will be used to purchase an LNG storage tank that is planned as part of the Phase 2 development. LNG Canada said it is targeting a final investment decision on the expansion by the end of 2026.
No further details on the timeline or total project costs were disclosed in the announcement.
Source: First Squawk