De-beard mussels, clean under running water to remove sand and grit. Discard any mussels that open before cooking.
Heat canola oil in a pan and stir in shallots and basil for 30 seconds on high heat. Place mussels and cover with the lid and move the pan back and forth without opening the lid until the mussels start to open. Keep cooking until the mussels, about 1 more minute.
Serve with sweet chili sauce as a dipping sauce or place ½ teaspoon sweet chili sauce on each mussels and garnish with lemon basil leaves.