Malaysian energy firm Petronas and its Asian partners have announced to move with a positive Final Investment Decision for their Pacific NorthWest LNG project.
The project, whose technical and commercial components have been satisfied, awaits two conditions for the construction to start.
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Legislative Assembly of British Columbia is yet to approve the Project Development Agreement for the LNG terminal.
The second approval for the development will be received after a federal environmental assessment.
Besides Peronas, which owns a 62% stake, other owners for the project are Sinopec (10%), Japex (10%), Indian Oil (10%), China Huadian (5%) and PetroleumBRUNEI (3%).
The consortium said in a statement: "The Final Investment Decision will be confirmed by the partners of PNW LNG once two outstanding conditions have been resolved."
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By GlobalDataPacific NorthWest LNG president Michael Culbert said: "A Final Investment Decision is a crucial step to ensure that the project stays on track to service contracted LNG customers.
"In parallel with work to support the Final Investment Decision, Pacific NorthWest LNG will continue constructive engagement with area First Nations, local communities, stakeholders and regulators.
"The integrated project is poised to create thousands of construction and operational careers in the midst of the current energy sector slowdown.
To be developed inside the District of Port Edward on land administered by the Prince Rupert Port Authority, the facility is expected to involve an investment of $11bn.
TransCanada Pipeline has been contracted to design, construct and operate a new natural gas pipeline for the facility which will enable transportation of natural gas from British Columbia.
TransCanada said that it will start construction on its Prince Rupert Gas Transmission Project (PRGT), later this year, following the approval.
TransCanada president and chief executive officer Russ Girling said: "This development is a significant step forward.
"The conditional positive Final Investment Decision advances a key component of TransCanada’s $46bn capital growth plan, which includes more than $13bn in proposed natural gas pipeline projects which support the emerging liquefied natural gas industry on the British Columbia Coast."
The project involves 900km natural gas pipeline to carry gas from the North Montney producing region near Fort St. John, B.C. at an interconnect on the NGTL System to the proposed PNW LNG liquefaction and export facility planned for Lelu Island, south of Prince Rupert.
