TotalEnergies, the world’s third-largest LNG player, has signed a 20-year agreement to buy million tons per annum (mtpa) of LNG from the Ksi Lisims LNG project in Canada. The deal is pending final approval, according to a company statement.
Meanwhile, TotalEnergies acquired a 5% stake in Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. This acquisition allows TotalEnergies to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10% when the final investment decision is made.
The Ksi Lisims LNG project, a liquefied natural gas (LNG) plant with a capacity of 12 Mtpa, is located on the Pacific coast of Canada (British Columbia), giving it privileged access to Asia, the largest LNG market. Fully powered by hydroelectricity, Ksi Lisims LNG will be one of the lowest CO2-emitting LNG projects in the world.
“This purchase of LNG from the future Ksi Lisims LNG plant will allow us to diversify our LNG portfolio in North America and benefit from competitive LNG supply in Western Canada to better serve our Asian customers, with whom we are developing a significant portfolio of long-term supply contracts”, said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies.
“As part of our integrated strategy, we are also pleased to partner with Western LNG to support the development of this very low CO2 emission liquefaction plant project”.She added.
TotalEnergies is a global integrated energy company operating in about 120 countries, producing and marketing different kinds of energy, including oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity.
