Shell Backs $23 Billion Expansion of LNG Canada, Boosting Carney's 'Energy Superpower' Push

Shell has backed a $23 billion expansion of the LNG Canada project, a move that supports Canadian Prime Minister Mark Carney's push to position the country as an "energy superpower," according to a report from CNBC.

The investment puts Canada on course to become a leading exporter of liquefied natural gas, the report said, as disruptions to global energy supply chains sharpen international focus on energy security.

CNBC's report did not detail the specific terms of Shell's investment, the expected timeline for the expansion, or the additional export capacity the expanded project would add once complete.

LNG Canada, located on Canada's west coast, has been positioned by the federal government as a centerpiece of its strategy to diversify energy exports, though the report did not elaborate on other elements of that strategy.

The report did not specify whether other partners in the LNG Canada project were involved in backing the expansion alongside Shell.