Shell (SHEL) and LNG Canada Development are close to making the financial commitment to double a Canadian natural gas project's capacity as soon as next week, Bloomberg reported Wednesday, citing unnamed people familiar with the matter.

LNG Canada Development's backers are set to announce a final investment decision to increase maximum output to 28 million metric tons a year, the report said.

The expansion will require billions of dollars in investment, the report said.

Shell, LNG Canada, and other backers of the project, including Petroliam Nasional, PetroChina, Mitsubishi, and Korea Gas, did not immediately reply to MT Newswires' request for comment.

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