TotalEnergies inks 20-year, 2 Mtpa LNG deal from Ksi Lisims
TotalEnergies has signed a Sales and Purchase Agreement (SPA) with Ksi Lisims LNG for the purchase of 2 Mtpa of LNG for 20 years from the future liquefaction plant, subject to the final investment decision of the project.
In parallel, TotalEnergies acquires a 5% 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% when the final investment decision is made.
The Ksi Lisims LNG project, a liquefied natural gas (LNG) plant with a capacity of 12 million tons per year (Mtpa), is located on the Pacific coast of Canada (British Columbia), giving it 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.
"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'. -TradeArabia News Service
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