The deal includes significant participation from the Canada Pension Plan Investment Board, the Ontario Municipal Employees Retirement System, the Investment Management Corporation of Ontario, and the Public Sector Pension Investment Board. This investment arrives shortly after shareholders greenlit Phase 2 of the Kitimat, British Columbia project, a move designed to double annual liquefaction capacity to 28 million tonnes by the early 2030s.

While Mitsubishi retains its operational footprint, the entry of these financial partners bolsters a project that Prime Minister Mark Carney has identified as a pillar of national energy strategy. Shell, the lead operator, intends to leverage this expansion to capture rising demand in Asian markets, securing an additional 6 million tonnes of LNG per annum once the new processing trains become operational.