New agreement covers 20-year export of LNG from Ksi Lisims project off Canada

TotalEnergies has entered into a sales and purchase agreement with Ksi Lisims LNG for the purchase of two million tonnes per annum (MTPA) of LNG for 20 years from a future liquefaction plant, subject to the final investment decision of the project.

In parallel, TotalEnergies has acquired a five per cent stake in Western LNG, the developer, shareholder and future operator of the Ksi Lisims LNG project. This acquisition grants TotalEnergies the option to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10 per cent when the final investment decision is made.

The Ksi Lisims LNG project, an LNG plant with a capacity of 12 MTPA, is located on the Pacific coast of British Columbia, Canada. TotalEnergies said this gives the project privileged access to Asia, the largest LNG market.

Fully electrified and powered by hydroelectricity, Ksi Lisims LNG will be one of the lowest CO2-emitting LNG projects in the world, according to TotalEnergies.

"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 and Power at TotalEnergies.

"As part of our integrated strategy, we are also pleased to partner with Western LNG to support the development of this liquefaction plant project."