Details on $41-Billion LNG project to be revealed
We are expecting to hear more about a major LNG deal for Western Canada Monday.
Royal Dutch Shell and its 4 partners have reached agreement to invest $41-Billion in a liquefied natural gas project that will result in LNG Canada transporting product from Kitimat to Tokyo in less than half the time -- about 8 days compared to 20 days from the U.S. Gulf.
The deal signals the end of a 3-year period of inactivity for the industry forced by a global oversupply of product.
Kitimat Mayor Philip Germuth told CTV news he is excited to hear more -- as the port city has lost hundreds of jobs in recent years, and an LNG pipeline and export terminal would
create between 300 and 500 jobs -- enough to replace many of the jobs lost to the area.