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Makes strategic investment in Western LNG
VANCOUVER / PARIS – Two agreements signed with affiliates of TotalEnergies will advance the Ksi Lisims LNG project and supply global markets with net-zero, reliable, Canadian LNG. The signing of these agreements significantly strengthens the commercial and financial foundations of the Ksi Lisims LNG project, paving the way for construction later this year. The agreements also demonstrate strong demand for Canadian natural gas and showcase Canada’s potential as a global energy superpower.
Ksi Lisims LNG Limited Partnership (“Ksi Lisims LNG”) and TotalEnergies Gas & Power Asia Private Limited (“TTEGPA”) have signed a 20-year LNG Sale and Purchase Agreement (“SPA”). Under the SPA, TTEGPA will purchase 2 million tonnes per annum of LNG from Ksi Lisims LNG on a free-on-board basis. This is the second LNG offtake agreement executed by Ksi Lisims LNG, following an LNG SPA signed at the end of 2023.
In connection with entering into the SPA, affiliates of TotalEnergies will make an initial investment in Western LNG LLC (“Western”) and will have the opportunity to increase its ownership upon the achievement of certain milestones, and, together with other investors, to directly invest in the Ksi Lisims LNG project at the time of its Final Investment Decision (“FID”).
“We are pleased to welcome TotalEnergies as an investor in Western as we develop the innovative Ksi Lisims LNG project with our partners,” said Davis Thames, Founder, President, and Chief Executive Officer of Western LNG. “TotalEnergies is the largest purchaser of North American LNG, and one of the largest producers and portfolio players in the world. 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.”
“This year marks the 25th anniversary of our landmark Treaty. For a quarter of a century, Nisga’a citizens have waited to see the kind of transformative opportunity our Treaty envisioned. That’s why it is especially meaningful to see Ksi Lisims LNG progressing steadily toward construction,” said Eva Clayton, President of the Nisga’a Lisims Government.“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."
"The signing of these agreements show significant momentum for Ksi Lisims LNG, and Canada’s natural gas sector. As Canada works to diversify trade and increase our economic resilience, projects like Ksi Lisims LNG will be critical,” said Charlotte Raggett, President ofRockies LNG. “With TotalEnergies’ extensive expertise and market reach, we are confident in our ability to deliver a reliable and sustainable supply of Canadian natural gas to international customers, while advancing Canada’s role in the evolving global energy landscape."
Based in Paris, TotalEnergies is one of the world’s largest LNG companies. Their ambition is to increase the share of natural gas in its sales mix to close to 50 per cent by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain, and to work with local partners to promote the transition from coal to natural gas.
Media enquiries:
Rebecca Scott
Western LNG
About Ksi Lisims LNG
Ksi Lisims LNG, meaning “from the Nass River” in the Nisga’a language, is a proposed net-zero liquefied natural gas project in British Columbia, Canada. It will be sited on Nisga’a Nation owned land on the northern tip of Pearse Island. Powered by renewable hydroelectricity, KsiLisims LNG will be the lowest emission intensity LNG facility in the world, and net-zero ready by 2030. The facility will produce 12 million tonnes per annum of LNG from two floating LNG production and storage facilities.
About the Ksi Lisims LNG Proponents
The Nisga’a Nation is a self-governing, modern treaty Nation with significant, defined control of and rights over their lands. The Ksi Lisims LNG project will be sited on land owned by the Nisga’a Nation at the northeastern tip of Pearse Island in BritishColumbia. https://www.nisgaanation.ca
Rockies LNG Partners is a limited partnership comprised of Canadian natural gas producers formed to advance LNG market access opportunities on the west coast of British Columbia.Rockies LNG’s partners collectively produce approximately half of Canada’s natural gas and are committed to responsible development of Canadian natural gas resources. http://www.rockieslng.com
Western LNG, with offices in Houston Texas, Vancouver, and Calgary, is a midstream project development company with an experienced management team in the development, construction and operation of LNG facilities, pipelines, and related energy infrastructure. For more information visit https://www.westernlng.com
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Their more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries,TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
