Carney set to make energy announcement in Vancouver

Prime Minister Mark Carney is in Vancouver on Tuesday to highlight what his itinerary describes as “an historic investment” in Canada’s energy industry.

Carney’s announcement comes after LNG Canada said earlier Tuesday that it will go ahead with the multibillion-dollar Phase 2 expansion of its liquefied natural gas export terminal in Kitimat, B.C.

This phase will double its export capacity from 14 to 28 million tonnes of liquefied natural gas per year, making it one of the world’s largest LNG facilities, and it is one of the five first developments referred to Ottawa’s major projects office last year.

The federal government says it’s expected to attract $33 billion worth of private sector capital to Canada and LNG Canada estimates that expansion could generate more than $50 billion in government revenues over its lifetime.

Carney is also expected to announce new measures to protect Canada’s oceans.

The press conference will take place at 11 a.m. PT and this story will be updated following the announcement.

With a file from The Canadian Press.