How much capacity does LNG Canada Phase 2 add, and when?

Phase 2 adds two LNG trains, taking LNG Canada from 14 to 28 million tonnes per annum, according to Rigzone and BOE Report. Commercial operations are expected in the early 2030s.

Who owns LNG Canada and how much of Phase 2 does Shell get?

Shell holds 40%, PETRONAS 25%, PetroChina 15%, Mitsubishi Corporation 15% and KOGAS 5%. Rigzone reports Shell's entitlement from Phase 2 at about 6 mtpa.

Does this affect Gulf LNG exporters now?

No. Canadian Phase 2 volumes are not expected before the early 2030s. The relevance is longer-term competition for Asian demand, alongside Qatar's stated goal of 142 mtpa by 2030. This is analysis, not advice.

Shell and Partners Sanction LNG Canada Phase 2

The LNG Canada joint venture took a final investment decision on 29 September 2026 to add two trains, with operations expected in the early 2030s. For Gulf exporters the effect is competitive and years away, not immediate.

Shell and its LNG Canada partners took a final investment decision on 29 September 2026 to add two trains, doubling capacity from 14 to 28 million tonnes per annum, with operations expected in the early 2030s. For Gulf exporters, it is a Pacific-basin supply addition landing as Qatar targets 142 mtpa by 2030.

The Gulf Barrel Desk September 30, 2026 Updated September 30, 2026 · 3 min read

The LNG Canada joint venture took a final investment decision on Phase 2, adding two trains and lifting capacity from 14 to 28 million tonnes per annum.
Shell holds 40% and is entitled to about 6 mtpa of Phase 2 output; PETRONAS, PetroChina, Mitsubishi and KOGAS hold the rest.
Commercial operations are expected in the early 2030s, so no additional cargo moves for years.
The Gulf effect is competition for Asian buyers after Qatar's planned 142 mtpa build-out, which is the desk's inference rather than a company statement.
This is analysis, not trading advice.

Shell and its partners in LNG Canada have taken a final investment decision on a second phase that doubles the Kitimat export project from 14 to 28 million tonnes per annum, as reported on 29 September 2026. For a Gulf and global energy desk, the question is timing and destination. Commercial operations are expected only in the early 2030s, so this is a pledge with a long lead time, not a cargo that has loaded.

What the partners decided

The joint venture participants, Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS, announced the decision on 29 September 2026, according to BOE Report. Phase 2 adds two liquefaction trains to the two already built, lifting capacity from 14 to 28 mtpa. It also adds an LNG storage tank, a condensate tank and a loading berth. Commercial operations are expected in the early 2030s, and BOE Report does not state a completion date.

Who owns the new barrels

Shell holds 40% of LNG Canada and, per Rigzone, is entitled to about 6 mtpa from Phase 2. PETRONAS holds 25%, PetroChina 15%, Mitsubishi 15% and KOGAS 5%. BOE Report says each participant is responsible for its proportionate share of the LNG, with the primary focus on Asian markets, particularly Japan and South Korea. That means five separate portfolios will market the volumes rather than a single seller.

Where the Gulf exposure sits

The Gulf exposure is competitive and distant. Qatar's minister of state for energy affairs said in February 2024, as carried by Qatar News Agency, that Qatar aims to raise LNG production capacity to 142 mtpa by 2030. Both supply waves are aimed at the Asian import base, which is the desk's inference, not a company statement. Canadian Phase 2 output arrives in the early 2030s, after Qatar's planned build-out is due to finish.

What is undisclosed and what to watch

BOE Report says the announcement does not specify project cost. The feed-gas pipeline, Coastal GasLink, gets five new compressor stations, with LNG Canada as execution manager. MNT Investments LP, representing five First Nations, is to secure up to C$1 billion of equity in the storage tank. Watch for the cost disclosure, construction milestones and any Asian buyer contracts. This is analysis, not trading advice.

How much capacity does LNG Canada Phase 2 add, and when?: Phase 2 adds two LNG trains, taking LNG Canada from 14 to 28 million tonnes per annum, according to Rigzone and BOE Report. Commercial operations are expected in the early 2030s.
Who owns LNG Canada and how much of Phase 2 does Shell get?: Shell holds 40%, PETRONAS 25%, PetroChina 15%, Mitsubishi Corporation 15% and KOGAS 5%. Rigzone reports Shell's entitlement from Phase 2 at about 6 mtpa.
Does this affect Gulf LNG exporters now?: No. Canadian Phase 2 volumes are not expected before the early 2030s. The relevance is longer-term competition for Asian demand, alongside Qatar's stated goal of 142 mtpa by 2030. This is analysis, not advice.

Shell Greenlights Project to Double LNG Canada Capacity — Rigzone
LNG Canada Announces Phase 2 Final Investment Decision — BOE Report
Shell takes final investment decision to double LNG Canada capacity — Shell
Qatar to Up LNG Production Capacity to 142 Million Tons Per Year by 2030, Says Minister of State for Energy Affairs — Qatar News Agency