BAKU, Azerbaijan, May 20. TotalEnergies has signed a Sales and Purchase Agreement (SPA) with Ksi Lisims LNG for the supply of 2 million tons per annum (Mtpa) of liquefied natural gas (LNG) over a 20-year period, Trend reports.
The supply will come from the planned Ksi Lisims LNG plant, subject to a final investment decision.
In addition to the purchase agreement, TotalEnergies has acquired a 5% interest in Western LNG, the company responsible for developing and operating the Ksi Lisims LNG project. The agreement includes an option for TotalEnergies to increase its participation in Western LNG and potentially take a direct stake in the liquefaction facility of up to 10%, depending on the outcome of the final investment decision.
The Ksi Lisims LNG project is expected to have an annual capacity of 12 Mtpa. It is located on Canada’s Pacific coast in British Columbia, providing favorable access to Asian markets. The project is designed to be fully electrified and powered by hydroelectricity, positioning it as one of the lowest CO2-emitting LNG plants globally.
Commenting on the agreement, Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, said the deal will help diversify the company’s LNG portfolio in North America and enhance supply to customers in Asia. He also highlighted the company’s interest in supporting the development of low-emission energy infrastructure.