Canada, British Columbia Sign Prosperity Pact Backing Major LNG, Energy Projects

() -- Canada and British Columbia signed a new cooperative prosperity agreement to accelerate major energy, mining, and trade projects, backed by billions of dollars in public investment, the Prime Minister of Canada said in a press release Thursday. The agreement will speed development of key energy corridors across British Columbia, including LNG Canada Phase 2, Ksi Lisims LNG, Cedar LNG and Woodfibre LNG. The federal government will work with project developers, communities and First Nations to fast-track permitting, financing and construction. The federal government will provide $3.9 billion through various funding tools for the first two phases of the North Coast Transmission Line. The project could generate $10 billion in economic activity and reduce emissions by up to 3 million tons annually. The transmission line will support a clean-energy corridor linking British Columbia and the Yukon via a proposed grid connection, while a potential Alberta interconnection could enhance electricity reliability and sustainability. Both governments said the projects will move forward in partnership with First Nations, creating new opportunities for Indigenous ownership and long-term.