Vice Chancellors made a provide maintain the proposed KSI Lisims LNG venture on BC Coast
Totlengis have signed a deal to buy two million tonnes per year per year for 20 years from the proposed KSI Lisims LNG project on the northern coast of BC.
The proposed project is a liquidized natural gas plant with a capacity of 12 million tonnes per year.
With respect to the deal, Totlengis will acquire a five percent stake in western LNG, developers, shareholders and future operators.
The French company has also been given the option to increase its stake in Western LNG and take a direct stake in the plant up to 10 percent after the final investment decision.
In a statement, the founder, chairman and CEO of Western LNG, Davis Themes said that he is pleased to welcome the total relationship as an investor, describing the company as the biggest buyer of North American LNG.
“Their experience with development and operation will be a welcome for the project as we move towards FID (final investment decisions) so that we can provide growing, low carbon canadian LNG reliable, low carbon canady LNG in global markets.”
Casey Lisims is being developed by Nisga Nation, Rockies LNG Partners and Western LNG. The project submitted its application to the BC government for the environmental assessment certificate in October 2023.
Eva Clayton, president of the Nisga Lisims Sarkar, said, “For a quarter of a century, Nisga citizens have waited to see the transformational opportunity of our treaty.” “This is why it is particularly meaningful to see KSI Lisims LNG progressing towards construction.”
Rockies LNG President Charlotte Ragate said projects like KSI Lisims LNG would be important “as Canada works to diversify trade and increase our economic flexibility.”
The Totalenergies deal is the second offtake agreement signed by KSI Lisims, which is still waiting for its final approval from the BC government. Its supporters say that if it is approved in 2025, it can be online by 2029.
Shell Eastern Trading PTE Limited signed a similar deal last year, as well as to buy two million tonnes of LNG per year for 20 years.
