Let's recognize that today's investment is being made in a different environment, a more dangerous and divided world. A world where Canada fully values export diversification and the greater sovereignty that it confers. A world where speed, reliability, and predictability are major competitive advantages. A world where Canadians are committed to building Canada strong for all. We have what the world wants. Canada is a reliable and trusted partner. We're delivering big again. We're building big, building fast, and crucially, as everyone has emphasized, building in the right way, working together, working for all Canadians, and we are just getting started.
Still there. Speech is still there. That's good. It's a good start. Thank you very, very much. Alec, let me join others in thanking you for welcoming us to your territory, starting this event in a good way. And elected chief counselor, nice for your words. Combine the two if we may for a moment tells us of our past. Your past, the pain of that past which we will reflect on this week and tomorrow, National Day for Truth and Reconciliation. It tells us of the progress of the present, what's been achieved today, what we're celebrating, we should celebrate it today, and the possibilities of the future. I'm going to say a few words, few more words. I've already said a few words. I'm going to say a few more words that tries to put into context the scale of this, but it's above and beyond this project. It's the way it's come together. It's the way it's being built. It's the teamwork that's here that teaches a lesson for all Canadians, and I would hope others around the world.
Premier EIE, Well, Tofi, Mr. Lou, Satosan, Mr. Kim, Chris Cooper, friends, elected, I should say, elected and hereditary chiefs and friends. What a project, what a partnership, what a great day for Canada. This is [applause] you look at the scale of the investment shows it. The partnership, the true partnership that you have all created proves it and the speed with which you're moving confirms it. Canada is working. Canada is building big again. [applause]
Today's investment, as you know, over $30 billion in LG Canada 2, will make LG Canada the second largest facility of its kind in the world. It will create thousands of new jobs. It will connect low-cost, low-carbon Canadian energy to global markets. It'll provide secure supply our partners in Asia and Europe need. Thanks to LG Canada's decision today, TC Energy is moving forward with its own multi-billion dollar phase 2 of the Coastal Gas Link pipeline. [applause] And that means, yes, doubling capacity, creating an additional 2,000 jobs, maximizing the value of the Western Canadian Sedimentary Basin, one of the world's most prolific natural gas basins.
This is team Canada at work. All levels of government pulling in the same direction along with First Nations, five global energy companies, thousands of skilled trades, contractors, communities, and I welcome the mayors and the MLAs from those communities, communities in northern BC working together as part of team Canada, building in partnership, true partnership with indigenous peoples, including supporting major indigenous ownership for generational prosperity and I salute your vision to realize that.
The speed of this project shows that now when Canadians want something built, we get it built. A year ago, the federal government referred LG Canada phase 2 to our major projects office. One office, one point of contact, one goal. Get to the right decision, the right decision as rapidly and efficiently as possible. And working with Shell and LG Canada, British Columbian First Nations, we've accomplished exactly that. 12 months from referral to final investment decision is the pace that this pivotal moment in Canada's history demands. We're a country of high standards, but high standards don't require slow decision. They require focused government, government that gets all the information that it needs, shares it immediately with all those who need it, and then sets the right conditions to build. We're doing this in the right way by building sustainably.
Now, building sustainably also means protecting our waters. In a few hours, I'll announce a historic investment by the government of Canada in ocean protection because sustainable growth and conservation go hand in hand. When we build, Canadians go to work. In Kamat alone, phase 2 will create up to 4,000 jobs at peak of construction. Good jobs for welders, pipe fitters, electricians, iron workers, heavy equipment operators, new businesses for fabricators and suppliers. And nearly building on the nearly $5 billion in contracts that have already been awarded to First Nations and local businesses across the region. And because we're moving fast, because our partners need this energy, construction will begin immediately.
Let me reflect on something Wild just said. Eight years ago, 2018, Shell and his partners bet on Canada, bet on making the largest private investment in our history. And they did so at a time when Canada had never exported LG at scale. In June last year, the first cargo sailed. Their bet, their investment, their confidence paid off. Their partnership paid off. Let's recognize that today's investment is being made in a different environment, a more dangerous and divided world. A world where Canada fully values export diversification and the greater sovereignty that it confers. A world where speed, reliability, and predictability are major competitive advantages. A world where Canadians are committed to building Canada strong for all. We have what the world wants. Canada is a reliable and trusted partner. We're delivering big again. We're building big, building fast, and crucially, as everyone has emphasized, building in the right way, working together, working for all Canadians. And we are just getting started. Thank you very much. Messages.
