Latest news with #WesternLNG
Vancouver Sun
27-05-2025
- Business
- Vancouver Sun
Is LNG in B.C. falling behind? Here's the status of five major projects
The Ksi Lisims LNG project, which is backed by the Nisga'a First Nation, requires a key decision by environmental regulators before it can proceed. Ksi Lisims, which this month signed an agreement with French energy giant TotalEnergies SE to buy some of the liquefied natural gas from the project, needs a re-approval from the B.C. Environmental Assessment Office for the pipeline that would serve its plant. Ksi Lisims, with partner Western LNG, applied in November for a ruling from the assessment office that initial work undertaken on the Prince Rupert Gas Transmission line was enough to satisfy a requirement for 'substantial start' of construction by late last year. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. No one from the environmental assessment office was made available for an interview, but an email in response to Postmedia questions said the office expects to make its decision this spring. The Prince Rupert Gas Transmission line, under then-owner Calgary-based TC Energy, received environmental approval for the proposed 780-kilometre, 1.2-metre diameter pipeline in 2014. The pipeline was later bought by the Nisga'a and Western LNG. A five-year permit extension granted in 2019 required a substantial start of construction before November 2024 or it would expire. A recent assessment office email said the determination is an administrative decision and the necessary time is being taken to review all relevant information needed to decide whether work clearing work the right of way constitutes a substantial start. Ksi Lisims is supported by the Nisga'a Nation, which views the project as a cornerstone of its economic development. But it is opposed by other First Nations, including the Gitanyow Nation whose territory the pipeline would cross on 50 kilometres of its route, and a consortium of environmental groups. The email from the assessment office said the decision will be based on information provided by the pipeline's partners and First Nations and consultation with those nations 'throughout this process.' In the meantime, other B.C. LNG projects, with the potential to export about 34 million tonnes of natural gas annually, are proceeding at varying stages of construction. The most advanced is LNG Canada in Kitimat. It received a shipment of imported liquefied natural gas in April to use in testing equipment during its commissioning process. It expects to be producing its first gas for export within a few months. Construction on the $18-billion LNG Canada plant, a joint venture of Shell Canada, Malaysian state-owned Petronas, PetroChina, Mitsubishi Corp. and Korean Gas Corp. started in 2019, along with its associated $14.5-billion Coastal GasLink pipeline, which is owned by TC Energy. At its outset, LNG Canada's two initial production units, referred to as 'trains' in the industry, will have the capacity to produce up to 14 million tonnes of liquefied natural gas a year. Partners in the consortium are considering a Phase 2 of the project to expand its capacity to 26 million tonnes of LNG a year. That Phase 2 expansion has political support in B.C. with Premier David Eby including the project on the list of major resource projects the projects is willing to 'fast track' to shore up the economy during the uncertainty of Canada-U.S. trade tensions. Woodfibre LNG, a subsidiary of Singapore-headquartered Pacific Energy Corp. received environmental approval for the its $5.1 billion LNG proposal in 2015 and kicked off major construction in 2023 with an expected completion date of 2027, according to Woodfibre. It is expected to have the capacity to produce up to 2.1 million tonnes of LNG a year. The project consists of the Woodfibre LNG plant, seven kilometres south of Squamish on the west side of Howe Sound on the former site of the Woodfibre pulp mill, and the Eagle Mountain pipeline, a 50 kilometre extension of FortisBC's pipeline network from Coquitlam. Woodfibre submitted an application in May seeking permission to moor an additional cruise-ship 'floatel' as accommodations for 900 workers alongside its initial 'floatel,' the MV Isabelle X, which houses 650 construction workers, to speed up progress. Cedar LNG, majority owned by the Haisla First Nation, is a joint venture with Calgary-headquartered Pembina Pipeline Corp. The proposal, in 2023, received environmental approval to build a floating LNG production facility on the Douglas Channel south of LNG Canada's project. The Cedar LNG joint venture made its final investment decision for the US$4 billion construction of the facility. Contractors Black & Veatch and Samsung Heavy Industries will build the plant's floating platform at shipyards in South Korea and transport it to the site, with an expected completion date in 2028. Once in commission, the plant will have the capacity to produce up to 3.3 million tonnes of LNG a year. FortisBC's original Tilbury LNG plant in Delta was opened in 1971 to produce LNG to be stored for times of peak demand in its domestic system. In 2018, a Phase 1 expansion increased its capacity to 250,000 tonnes of LNG a year to meet increasing domestic demand for use of gas as transportation fuel in trucking and in shipping. A Phase 2 projects remains under review by the environmental assessment office. Construction would start in 2026, expanding production to 2.5 million tonnes of LNG a year to supply domestic demand, but also open the potential for exports. depenner@
Calgary Herald
21-05-2025
- Business
- Calgary Herald
French oil giant TotalEnergies returns to Canada with bet on burgeoning LNG industry
Article content French oil major TotalEnergies SE has secured a toehold in Canada's emerging liquefied natural gas industry, signing long-term agreements with the proponents of Ksi Lisims LNG, a proposed export terminal on the northwest coast of British Columbia. Article content The deal announced Monday would see TotalEnergies purchase two million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the Nisga'a Nation-backed project over a period of 20 years. It marks the second major offtake, or pre-purchase, agreement for the floating LNG terminal on Pearse Island, north of Prince Rupert, which signed a similar deal with global energy giant Shell in 2023. Article content Article content Locking in long-term buyers for its natural gas exports, scheduled to begin in 2029, is critical if project backers Western LNG, Rockies LNG and the Nisga'a Nation are to give the project the green light, with a final investment decision (FID) expected later this year. Article content Article content Under the agreements, TotalEnergies is also acquiring a five per cent stake in project developer, shareholder and future operator Western LNG, with the option of increasing that stake or taking a direct ownership share in the Ksi Lisims project of up to 10 per cent. Article content 'TotalEnergies is the largest purchaser of North American LNG, and one of the largest producers and portfolio players in the world,' Davis Thames, president and chief executive of Western LNG said in a statement. 'Their experience with development and operations will be a welcome addition to the project as we move steadily toward FID later this year so that we can provide reliable, low-carbon Canadian LNG to growing global markets.' Article content Article content The announcement also marks a significant return by TotalEnergies to Canada's oil and gas sector after its high-profile exit from the oilsands in 2023; at the time, the company said it was divesting its oilsands interests in order to focus on plays with lower breakeven points, in a move that was hailed by some analysts as a positive given increased investor interest in lower carbon energy. Article content
Yahoo
21-05-2025
- Business
- Yahoo
TotalEnergies Seals LNG Deal with Ksi Lisims
It was recently revealed that TotalEnergies SE (NYSE:TTE) has signed an agreement with Ksi Lisims to purchase LNG. Let's shed some light on the development. TotalEnergies SE (NYSE:TTE) announced on May 19, 2025, that it has signed a deal with Ksi Lisims LNG for the purchase of 2 million tons per year of LNG for 20 years from the latter's planned export project in Canada, subject to the final investment decision of the project. Moreover, the French energy giant will also acquire a 5% stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. The agreement will grant TotalEnergies the option to increase its stake in Western LNG and/or to take a direct stake in the plant up to approximately 10% when the final investment decision is made. The Ksi Lisims LNG project, with a capacity of 12 million tons per year, is of strategic importance to Total since its Pacific coast location grants it privileged access to Asia, the largest LNG market in the world. Stéphane Michel, President of Gas, Renewables, & Power at TotalEnergies SE (NYSE:TTE), stated: "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. 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" TotalEnergies SE (NYSE:TTE) is the third-largest LNG player in the world with a global portfolio of 40 Mt/y in 2024, thanks to its interests in liquefaction plants in all geographies. Despite a net adjusted profit and revenue decline in the first quarter of 2025, the company's LNG business performed well, with adjusted net operating income rising by 6% YoY to $1.3 billion. Already the top exporter of American LNG, the French energy major is planning to expand its portfolio even further, most recently via a 20-year contract signed last month with NextDecade. While we acknowledge the potential of TTE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TTE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Vancouver Sun
20-05-2025
- Business
- Vancouver Sun
French oil giant TotalEnergies returns significantly to Canada with bet on burgeoning LNG industry
French oil major TotalEnergies SE has secured a toehold in Canada's emerging liquefied natural gas industry, signing long-term agreements with the proponents of Ksi Lisims LNG , a proposed export terminal on the northwest coast of British Columbia. The deal announced Monday would see TotalEnergies purchase two million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the Nisga'a Nation-backed project over a period of 20 years. It marks the second major offtake, or pre-purchase, agreement for the floating LNG terminal on Pearse Island, north of Prince Rupert, which signed a similar deal with global energy giant Shell in 2023. Locking in long-term buyers for its natural gas exports, scheduled to begin in 2029, is critical if project backers Western LNG, Rockies LNG and the Nisga'a Nation are to give the project the green light, with a final investment decision (FID) expected later this year. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Under the agreements, TotalEnergies is also acquiring a five per cent stake in project developer, shareholder and future operator Western LNG, with the option of increasing that stake or taking a direct ownership share in the Ksi Lisims project of up to 10 per cent. 'TotalEnergies is the largest purchaser of North American LNG, and one of the largest producers and portfolio players in the world,' Davis Thames, president and chief executive of Western LNG said in a statement. 'Their experience with development and operations will be a welcome addition to the project as we move steadily toward FID later this year so that we can provide reliable, low-carbon Canadian LNG to growing global markets.' The announcement also marks a significant return by TotalEnergies to Canada's oil and gas sector after its high-profile exit from the oilsands in 2023; at the time, the company said it was divesting its oilsands interests in order to focus on plays with lower breakeven points, in a move that was hailed by some analysts as a positive given increased investor interest in lower carbon energy. Ksi Lisims will have a total export capacity of about 12 Mtpa or 1.58 billion cubic feet per day (Bcf/d) once complete and is planned to be fully electrified, powered through a tie-in to BC Hydro's planned North Coast transmission line. 'TotalEnergies shares our vision of bringing cleaner energy to the world, advancing Indigenous leadership in the global economy and sharing our deep commitment to environmental stewardship,' Eva Clayton, president of Nisga'a Lisims government said in a statement. The project is currently under review by the B.C. Environmental Assessment Office. However, the environmental review is not the only hurdle for Ksi Lisims. B.C. Environment Minister Tamara Davidson is soon expected to make a key determination on a related regulatory matter over the Prince Rupert Gas Transmission (PRGT) project, the pipeline that will supply feed gas to the Ksi Lisims LNG export terminal. While PRGT received its initial environmental permits in 2014, it was required to have been 'substantially started' by November 2024 in order to maintain its environmental certificate. The project's proponents, the Nisga'a Nation and Western LNG, say construction started in August 2024, but those claims have been challenged by some Indigenous and environmental opponents who say the activities were limited and don't meet the threshold for a substantial start. The country's largest and most advanced LNG export project remains the Shell-backed LNG Canada terminal in Kitimat B.C., the first phase of which is reportedly set to begin loading cargo in June; a second phase, which would double the facility's capacity to 3.68 Bcf/d, is still uncertain. If Ksi Lisims LNG is approved, and LNG Canada's owners green light a second phase, the country's total approved LNG export capacity could reach nearly six Bcf/d. Tourmaline Oil Corp. chief executive Michael Rose said there are multiple large Canadian gas producers lined up to supply the project through the Rockies LNG partnership. 'Hopefully, there's Canadian momentum to start approving these projects,' Rose said on a recent earnings conference call prior to TotalEngergies' announcement. 'Because (of) just how important LNG is to Canada, because it's great for the economy of the entire country; it reduces emissions in the global atmosphere and it's a great opportunity for improving Indigenous prosperity.' mpotkins@ Bookmark our website and support our journalism: Don't miss the business news you need to know — add to your bookmarks and sign up for our newsletters here.
CBC
20-05-2025
- Business
- CBC
TotalEnergies signs supply deal with proposed Ksi Lisims LNG project on B.C. coast
TotalEnergies has signed a deal to buy two million tons per year of liquefied natural gas for 20 years from the proposed Ksi Lisims LNG project on the north coast of B.C. The proposed project is a liquefied natural gas plant with a capacity of 12 million tons per year. In connection with the deal, TotalEnergies will acquire a five per cent stake in Western LNG, the developer, shareholder and future operator of the project. The French company has also been granted an option to increase its stake in Western LNG and/or take a direct stake in the plant of up to about 10 per cent once a final investment decision is made. In a statement, Davis Thames, the founder, president and CEO of Western LNG, said they're pleased to welcome TotalEnergies as an investor, describing the company as the largest buyer of North American LNG. "Their experience with development and operations will be a welcome addition to the project as we move steadily toward FID [final investment decision] later this year so that we can provide reliable, low-carbon Canadian LNG to growing global markets," Thames said. Ksi Lisims is being developed by the Nisga'a Nation, Rockies LNG Partners and Western LNG. The project submitted its application to the B.C. government for an environmental assessment certificate in October 2023. "For a quarter of a century, Nisga'a citizens have waited to see the kind of transformative opportunity our Treaty envisioned," said Eva Clayton, president of the Nisga'a Lisims government. "That's why it is especially meaningful to see Ksi Lisims LNG progressing steadily toward construction." Charlotte Raggett, president of Rockies LNG, said projects like Ksi Lisims LNG will be critical "as Canada works to diversify trade and increase our economic resilience." The TotalEnergies deal is the second offtake agreement signed by Ksi Lisims, which is still waiting for its final approval from the B.C. government. Its proponents say if it is approved in 2025, it could be online by 2029. Shell Eastern Trading Pte Ltd. signed a similar deal last year to also buy two million tons of LNG per year for 20 years.
