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. Read More
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. 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,
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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 deal allows Total to invest a 5% stake in Western LNG and potentially increase its ownership stake to 10%, pending a final investment decision, according to a separate statement from Total. It follows Shell Plc’s accord with Western LNG in 2024.
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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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Canada’s first major LNG export terminal, LNG Canada, is scheduled to start production this year.
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With files from Francois de Beaupuy
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