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B.C. North Coast LNG project draws nearer to final investment decision
The deal lifts Ksi Lisims LNG to 58% of planned output and moves the project closer to a final investment decision.
- On Monday, October 26, Ksi Lisims LNG converted a heads of agreement into a binding sale and purchase agreement with Securing Energy for Europe , a state-owned German energy company. SEFE will purchase one million tonnes of LNG annually over 20 years.
- This contract brings Ksi Lisims' completed binding SFAs to 7 million mtpa, or roughly 58 per cent of the 12 million mtpa it plans to produce. Large-scale energy projects typically require at least 75 per cent capacity to secure commercial financing.
- Conservatives leader Lorne Doerkson promised to cut red tape following his October 24 provincial election victory, pledging to double natural gas production by 2032 and citing potential annual benefits of at least $6 billion for public services.
- "Our Nation is proving that Canada's resources can reach world markets in a way that respects our lands and our rights," said Eva Clayton, president of the Nisga'a Lisims Government. The facility is flagged by the federal government's Major Projects Office for potential fast-tracking.
- Despite powerful backing, both Ksi Lisims and the associated Prince Rupert Natural Gas pipeline face ongoing legal challenges brought by area First Nations. The partnership remains focused on reaching a final investment decision by the end of 2026.
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Total News Sources13
Leaning Left12Leaning Right0Center0Last UpdatedBias Distribution100% Left
Bias Distribution
- 100% of the sources lean Left
100% Left
L 100%
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