LNG Canada and its joint venture (JV) participants have agreed an equity option with MNT Investments that could allow a First Nations partnership to invest up to C$1bn ($711m).
The investment would secure a majority interest in a special purpose entity (SPE) that will own a new liquefied natural gas (LNG) storage tank. This tank is due to be constructed as part of the phase two expansion of the LNG export facility in Kitimat, British Columbia (BC).
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MNT Investments is a limited partnership comprising the economic development organisations of Gitga’at First Nation, Gitxaała Nation, Haisla Nation, Kitselas First Nation and Kitsumkalum.
If exercised, the option would give these First Nations a majority equity stake in the entity owning the storage tank. LNG Canada describes the agreement as one of the largest indigenous ownership opportunities in a major Canadian infrastructure project and a significant investment in Canada’s LNG sector.
LNG Canada president and CEO Chris Cooper said: “Our announcement reflects our continued commitment to reconciliation by creating a pathway for indigenous equity in our proposed phase two expansion.
“This agreement recognises that indigenous nations should have the opportunity to participate in major investments like phase two, not only through jobs, training, procurement and community benefits but also through long-term ownership and value creation at a global scale.
“Together with Gitga’at, Gitxaała, Haisla, Kitselas and Kitsumkalum, we continue to work towards our shared vision of helping Canada become a top-five global LNG exporting nation and providing the world with a secure, reliable supply of lower-carbon LNG.”
The terms specify that the SPE would lease the storage tank back to LNG Canada for the duration of its operations.
LNG Canada would continue to operate and maintain both the tank and all related infrastructure.
Participation from the First Nations would begin from the construction phase if the project proceeds. A final investment decision for phase two is targeted by the end of 2026 and remains subject to JV participant approval.
LNG Canada’s facility operates in the traditional territory of the Haisla Nation and currently includes two processing trains. Phase two, if approved, would add two more processing units, potentially increasing capacity up to 30 million tonnes per annum.
Since starting operations in late June 2025, LNG Canada and its partners have shipped more than 100 LNG cargoes.
The LNG Canada JV comprises Shell with 40% through Shell Canada Energy; Petronas holding 25% via North Montney LNG; PetroChina with 15% through the PetroChina Kitimat LNG Partnership; Mitsubishi with 15% via the Diamond LNG Canada Partnership; and Korea Gas with 5% through the Kogas Canada LNG Partnership.
The facility is operated by LNG Canada Development.
The storage tank at the centre of this agreement would have a capacity of 225,000m³, making it the largest in Canada and among the largest worldwide.
The tank is set to stand 56m high and have a diameter of 92m, with a 9% nickel alloy steel inner tank and cryogenic insulation.
Further support for the phase two expansion follows recently signed agreements with government bodies.
On 2 July 2026, the Government of Canada and the Province of British Columbia signed the Canada-British Columbia Cooperative Prosperity Agreement to accelerate the construction and permitting of major projects including LNG Canada phase two.
In May 2026, a separate agreement was made between the federal and provincial governments and LNG Canada for enhanced investment cooperation after the project was referred to the Major Projects Office in September 2025.
