Ksi Lisims LNG LP and TotalEnergies Gas & Power Asia Private Ltd. (TTEGPA) signed a 20-year LNG agreement under which TTEGPA will purchase 2 million tonnes/year (tpy) of LNG from Ksi Lisims LNG in Western Canada on a free-on-board basis.
In connection, TotalEnergies has acquired a 5% stake in Western LNG LLC, which serves as the developer, shareholder, and future operator of the LNG project.
TotalEnergies will retain the opportunity to increase ownership up to about 10% when a final investment decision (FID) is made, which is expected later this year.
Ksi Lisims said the agreements advance the project to supply global markets with net-zero, reliable, Canadian LNG, and strengthen the commercial and financial foundations of the project, paving the way for construction later this year.
Commercial operations are anticipated to begin in late 2028 or 2029.
