HomeNewsKsi Lisims LNG signs its first supply agreement with Shell

Ksi Lisims LNG signs its first supply agreement with Shell

1/8/2024

(Reuters) - Energy major Shell has entered into a deal to buy 2 MMt of LNG per year from the Ksi Lisims LNG, partners in the Canadian project said on Monday.

The facility - a co-development of the Nisga'a Nation, Rockies LNG Partnership and Western LNG - will produce 12 million tons of LNG annually from two floating LNG production and storage facilities in Northwest Canada.

Ksi Lisims LNG filed an application with the government of British Columbia for an environmental certificate in Oct. last year and is awaiting regulatory approval for the deal.

"The Ksi Lisims LNG project will provide energy markets in Asia with low-carbon, reliable energy that helps transition from higher emitting fuels to meet growing energy needs and supports continued growth in intermittent renewables such as wind and solar," CEO of Rockies LNG Charlotte Raggett said.

British Columbia's Pacific coast is close to Canada's vast Montney shale field and Asian markets, which is a top importer of the commodity.

Shell is strengthening its LNG portfolio in Canada and is also involved with another LNG project in British Columbia.

The project called LNG Canada, a Shell-led joint venture with five partners, including Japan's Mitsubishi Corp and Malaysia's state energy firm Petronas is set to be Canada's first LNG export facility and would produce 14 million tons of LNG a year, with shipments beginning in 2025.

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