OTTAWA - Federal Energy Minister Tim Hodgson is hailing streamlined approval of a massive floating liquefied natural gas export facility off British Columbia's coast, saying it represents one of the largest private sector investments in Canadian history.

Hodgson says the Ksi Lisims LNG project that received a B.C. environmental certificate on Monday, followed by federal approval, is an example of the "one project, one review" system in which the Canadian government relied on the province for an assessment.

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