Petronas-backed LNG Canada moves toward $30 billion expansion as Shell eyes stake sale, UAE’s XRG shows interest
LNG Canada, a consortium in which Petronas holds 25 %, Shell 40 % and PetroChina, Mitsubishi Corp and Korea Gas Corp each hold 15 % and 5 % respectively, loaded its first export cargo in June 2025. The partners are now conducting detailed engineering studies and cost assessments for a C$30 billion Phase 2 expansion that would more than double annual output to roughly 30 million tonnes. Shell is contemplating selling as much as three‑quarters of its 40 % interest, creating an opening for a buyer. Abu Dhabi National Oil Company’s overseas investment arm, XRG, is reported to be pursuing a stake in the project.
How this was covered
- Left-leaning outlets covered this 6h later
- Centrist coverage is the most divided on this story
Why it matters
The expansion could significantly raise Canada’s LNG export revenues and influence global energy markets.
How this story developed
- Sep 27 UAE's XRG eyes stake in Canada’s flagship LNG project
- Oct 6 Shell announced it may sell up to three‑quarters of its 40 % share in LNG Canada.
