TotalEnergies signs Canada LNG deal with Ksi Lisims LNG

TotalEnergies, a French energy company, said in a Monday statement that it had signed a contract with Ksi Lisims LNG to purchase 2 million tons of LNG per year for 20 years at a future LNG liquefaction facility. The agreement is subject to the final decision on the investment of the project.

TotalEnergies announced that it was also purchasing a 5% share in Western LNG, which is the developer, shareholder and future operator of Ksi Lisims LNG. Ksi Lisims, a liquefied gas (LNG), plant located on Canada's Pacific coast with a 12 million ton capacity per year.

TotalEnergies stated that the acquisition gives it the option of increasing its stake in Western LNG or to take a stake directly in the plant, up to 10% at the time the final investment decision was made.

The project's location on the west coast will provide it with privileged access to Asia as the world's largest LNG market.

No financial details are provided.

The company stated that Ksi Lisims will be the lowest-emitting gas project in the world.

(source: Reuters)