Ministers Morneau and Carr Attend Canada 2020 Event

News release

December 13, 2018 – Ottawa, Ontario – Department of Finance Canada

Foreign direct investment is critical to Canada's economy, with benefits that stimulate our economy, spur innovation, improve productivity and ease access to international markets. Canada offers global investors and entrepreneurs a diverse and open place to do business that inspires creativity and offers stability, predictability and clarity.

Today, Bill Morneau, Minister of Finance, and Jim Carr, Minister of International Trade Diversification, will attend the Canada 2020 event, Anatomy of a Deal, about LNG Canada's $40 billion investment in a major liquefied natural gas (LNG) project in Kitimat, British Columbia, the single largest private sector investment in Canadian history.

Ministers Morneau and Carr will speak about how environmental leadership and economic growth go hand-in-hand, underscoring that modern infrastructure and cleaner technology will get Canadian resources to new markets, grow our economy, and create good, well-paying jobs for the middle class.

As an investment destination, Canada offers foreign investors financial, political and economic stability; a well-educated, highly skilled and diverse workforce; a competitive business environment; and access to large and growing markets around the world.

Quotes

"The decision by LNG Canada to make a historic $40 billion investment in Canada is a vote of confidence in the Canadian economy. It's an investment that will create thousands of good, well-paying middle class jobs—including in First Nations communities—and will be a powerful contributor to Canada's continued economic growth."

- Bill Morneau, Minister of Finance

"International investment contributes significantly to prosperity in Canada. It infuses our communities with fresh capital, creates jobs, introduces new technology, and helps provide Canadian companies with access to global supply chains."

- Jim Carr, Minister of International Trade Diversification

"This historic investment is a vote of confidence in a country that recognizes the need to develop our energy in a way that takes the environment into account, and that works in meaningful partnership with Indigenous communities. I also congratulate LNG Canada on having joined Equal by 30, demonstrating their commitment to increase women's participation in the clean energy sector."

- Amarjeet Sohi, Minister of Natural Resources

Quick facts

  • The LNG Canada project will create up to 10,000 jobs in construction and create billions of dollars in direct government revenues.

  • The Government of Canada is providing $275 million for the LNG Canada project. 
  • The LNG Canada facility is expected to supply natural gas to Asian countries, such as China, which still depends on coal for over 60 per cent of its power generation. 

  • The Government has measures in place to support the successful introduction of an LNG export industry in Canada, including low business taxes, 40-year export licences and accelerated capital cost allowances for natural gas liquefaction facilities and buildings.

Associated links

Contacts

Pierre-Olivier Herbert
Press Secretary
Office of the Minister of Finance
pierre-olivier.herbert@canada.ca
613-369-5696

Media Relations
Department of Finance Canada
fin.media-media.fin@canada.ca
613-369-4000

Isabella Brisson-Urdaneta
Press Secretary
Office of the Minister of International Trade Diversification
343-203-7332
Isabella.Brisson-Urdaneta@international.gc.ca

Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
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General Enquiries

Phone: 613-369-3710
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: fin.financepublic-financepublique.fin@canada.ca

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