10 Sep 2026 4 min read

Timeline Breadcrumbs; Contractor Announcements; LNG Projects Make Carney's "Pitch Book"

Highlights

Both LNG Canada and Ksi Lisims have given reporters new timeline breadcrumbs for reaching final investment decisions. LNGC says "likely...before the end of the year." Ksi Lisims "early 2027."
Western LNG announced Surerus Murphy JV and Allseas as lead contractors for PRGT pipeline.
Ksi Lisims LNG, a proposed Woodfibre LNG expansion, and the pre-proposal Kino Aski LNG all appear in Mark Carney's "Canada Investment Summit Prospectus" or "pitch book" for his upcoming investor gala.

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Details

Timeline Breadcrumbs

Readers of this newsletter will know that Ksi Lisims LNG has repeatedly pushed back its final investment decision timeline over the last year or more with each new comment to media seeming to delay it by another quarter. The latest news is no different: Rockies LNG chair Jeff Tonken told the Globe and Mail Ksi Lisims aims to make its final investment decision "by early 2027."

LNG Canada has made less claims about its Phase 2 expansion FID, but on Shell's Q2 earnings call, CEO Wael Sawan told investors he expects the project FID is "likely to be [made] before the end of the year." Notably, his language was more circumspect than that of the Canadian government, referring to it by saying, "LNG Canada phase 2, provisionally, if we take an FID on that."

Contractor Announcements

Western LNG, the company that owns Ksi Lisims LNG and co-owns the PRGT pipeline, made two announcements about contractor selection over the last few weeks. Allseas, a Swiss company, will be the lead contractor for the ocean segment of pipeline that crosses the Nass River estuary to Pearse Island. Surerus Murphy JV, a BC-based joint venture that has been involved in many other pipeline projects including both the Trans Mountain Expansion Project and Coastal GasLink, will be the lead contractor for the land-based portion of the pipe—the majority of its route.

Ksi Lisims Asking for Money at Mark Carney's Invest Canada Summit

Mark Carney is having an gala for the world's largest investors. His government has created a "Canada Investment Summit Prospectus" or "pitch book" containing a wide range of infrastructure projects for foreign investors to buy up or finance. Included in this pitch book, among many other projects, are both Ksi Lisims LNG and a seemingly newly announced Woodfibre LNG expansion, alongside Kino Aski LNG, a relatively new proposal for an export facility in Quebec.

Nothing says "serious" like your CEO using a Gmail address in a national investment summit "pitch book."

Ksi Lisims inclusion is notable in part because it confirms what has been relatively obvious: the company is desperately seeking investors and has made little progress on this front despite the Government of Canada's aggressive support. LNG Canada Phase 2 is noticeably absent from this package.

The Woodfibre expansion proposal is interesting. Rumours have been flying around about potential expansions at Woodfibre LNG for some time. Energy Minister Tim Hodgson, for example, has claimed the project hopes to double or triple in size. That has always struck us as unlikely, at least in the near term, given the constraints on gas availability and pipeline infrastructure the project faces, but it is worth keeping in mind. What's included in the "pitch book" is a much more modest expansion from 2.1mtpa to 2.5mtpa. To our knowledge, it is the first (semi-)public announcement of expansion plans that the company has made.