TotalEnergies signs deal to buy LNG from project in B.C.
TotalEnergies SE reached a 20-year deal to buy liquefied natural gas from an export terminal being developed in Western Canada, bolstering the French energy major's global portfolio of the fuel.
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The agreement calls for Total to purchase 2 million metric tons a year from the Ksi Lisims project in British Columbia, proposed by Western LNG, according to a statement Monday.
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Canada is pushing to become a major supplier of LNG as data centers and artificial intelligence drive up demand for electricity, nations shift away from dirtier fuels and Europe looks for alternatives to Russian gas.
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The Ksi Lisims project is backed by Houston-based Western LNG, the indigenous group Nisga'a Nation and a consortium of Canadian gas producers known as Rockies LNG, which include Ovintiv Inc. Ksi Lisims is designed to produce 12 million tons of LNG annually.
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