Canada's Ksi Lisims LNG Secures Indigenous Support

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Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

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Summary

Ksi Lisims would be the next Canadian facility for LNG exports from the Pacific Coast. It's part of Prime Minister Carney's push to expand non-U.S. trade.

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The proposed Ksi Lisims export facility for liquefied natural gas (LNG) from the Pacific Coast of Canada secured backing from regional indigenous groups, the company said.

Ksi Lisims, slated for Pearse Island off the coast of British Columbia, will have a nameplate capacity of 12 million metric tons per annum. Industrial Info Resources offers more information on Ksi Lisims in its Global Market Intelligence (GMI) Oil & Gas Plant and Project databases, where readers can find details--including construction schedules, investment values and necessary equipment--in a plant profile and project report.

On Tuesday, project developers signed benefit agreements with three aboriginal groups, which in turn withdrew their reviews of the project's environmental certificate.

"Our vision for Ksi Lisims LNG has always been about creating long-term prosperity for all communities across northwest B.C.," said Eva Clayton, the president of the Nisga'a Nation.

With completion expected before the end of the decade, Western LNG, the project's backer, has scored a handful of offtake agreements. German energy company Uniper on Monday agreed to a "long-term" deal to secure 2 million metric tons of LNG annually from Ksi Lisims.

"Canada offers an attractive environment with significant gas resources, strong political stability and reliable regulatory frameworks," said Michael Lewis, the chief executive officer at Uniper. "We see potential in projects like Ksi Lisims LNG to further enhance the resilience and flexibility of our supply portfolio."

Late last month, an offtake agreement for 1 million metric tons of LNG for German energy company SEFE became the first-ever offtake agreement with a European partner with Canada.

LNG is part of a trade diversification effort steered by Canadian Prime Minister Mark Carney, a former central bank official working to counter the economic and sovereign pressures from U.S. President Donald Trump.

Carney in November included Ksi Lisims on a list of projects meant to support the nation's economy.

The facility will be fed by Prince Rupert Gas Transmission (PRGT), which entered the construction phase last year. Led by TC Energy, the 466-mile artery would carry up to 3.6 billion cubic feet per day (Bcf/d) to Ksi Lisims. Readers can learn more from a detailed project report.

Canada's Economy Not Matching Ambitions

British Columbia's government reported that 25,200 new jobs were added to payrolls in the province in May, which marked the third-straight month of job gains in the construction and manufacturing sector. Ravi Kahlon, the provincial minister of jobs and the economy, said energy is supporting future growth.

"We are strengthening B.C.'s place in the global economy by expanding trade relationships and advancing major projects, including growing our LNG sector," he said. "Canada's recent LNG deal with Germany--historic and first of its kind--reflects the growing global confidence in what we're building here in B.C."

The Canadian economy, however, is under pressure. The economy contracted during the three-month period ending March 31, the second consecutive decline and indications of a technical recession. Carolyn Rogers, a deputy governor at the Bank of Canada, said on top of U.S. pressures, the war in the Middle East was adding another layer of uncertainty and it was unclear how long the conflict would last.

The Bank of Canada on Wednesday kept its lending rate stable at 2.25%.

Key Takeaways

• The Ksi Lisims LNG export facility secured backing from indigenous groups.
• Western LNG, the project's backer, has scored a handful of offtake agreements.
• The Canadian economy contracted during the three-month period ending March 31.

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