Canada Approves Blackstone-Backed West Coast LNG Export Project

Canada cleared a C$10 billion ($7.3 billion) floating facility to export liquefied natural gas off its northwest coast as soon as 2028.

Ksi Lisims LNG — backed by Blackstone Inc.-funded Western LNG, as well as Rockies LNG Partners and the Nisga’a Nation, an Indigenous group that owns the development land — is the first such major project to be approved under Prime Minister Mark Carney. The former central banker has taken a less strict environmental stance than predecessor Justin Trudeau, as he pushes to boost Canada’s economy and reduce its trading reliance on the US.