Ksi Lisims LNG and Shell Finalise SPA
01.12.2024 By Tank Terminals - NEWS

January 12, 2024 [LNG Industry]- Ksi Lisims LNG Limited Partnership, a co-development of the Nisga’a Nation, Rockies LNG Limited Partnership, and Western LNG LLC, have announced that Ksi Lisims LNG and Shell Eastern Trading Pte Ltd have signed a 20-year LNG sale and purchase agreement (SPA). Under the SPA, Shell will purchase 2 million tpy of LNG from the Ksi Lisims LNG project on a free-on-board basis. This is the first LNG offtake agreement executed by Ksi Lisims LNG.

 

“The Ksi Lisims LNG project is an innovative development for North America. Our project, utilising floating LNG production units built by Samsung Heavy Industries and an all-electric process technology developed by Black & Veatch, will be the lowest emitting LNG liquefaction facility in the world. The strong fundamentals of our project have earned the confidence of some of the most established companies in the LNG industry. We look forward to continuing to work with Shell and our other customers as we move toward reaching a final investment decision,” said Davis Thames, President and CEO of Western. “Ksi Lisims LNG will play an important role in the long-term economic growth of the Nisga’a Nation and other nations with which we work, and we remain committed to being good partners with them. Our work with the Nisga’a Nation and Rockies LNG has produced a unique value proposition for our customers, and we look forward to growing our sales portfolio in the near future.”

Steve Hill, Executive Vice President of Shell Energy, added: “LNG is a critical pi-lar of global energy security and global demand is set to increase in the years to come. We are pleased to sign this agreement with Ksi Lisims LNG which will help Shell to continue providing diverse and flexible LNG supply to its customers.”

“The Nisga’a Nation has been striving to grow economic opportunities for our people right here at home. Ksi Lisims LNG is the cornerstone of a brighter future for our people. As the project continues to pick up momentum, evidenced by this agreement with Shell, the Nisga’a people are now able to envision the opportunity and prosperity that Ksi Lisims LNG will bring to our Nation,” commented Eva Clayton, President of Nisga’a Lisims Government.

“We’re proud to be working to deliver the world’s cleanest natural gas to markets that need it most,” concluded Charlotte Raggett, President and CEO of Rockies LNG. “Canada is an ideal global energy supplier, producing the world’s most responsible and lowest-emission natural gas at the shortest distance from Asia in the Americas. 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.”

Ksi Lisims LNG, meaning ‘from the Nass River’ in the Nisga’a language, is a proposed net-zero LNG project in British Columbia, Canada. It will be sited on Nisga’a Nation-owned land on the northern tip of Pearse Island. Powered by renewable hydroelectricity, Ksi Lisims LNG will be the lowest emission intensity LNG facility in the world, and net-zero ready by 2030. The facility will produce 12 million tpy of LNG from two floating LNG production and storage facilities. Ksi Lisims LNG filed an application with the B.C. government for an environmental certificate on 16 October 2023. Ksi Lisims LNG was represented by Baker Botts L.L.P. in the drafting and negotiation of the SPA.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

FERC to Decide on Venture Global Building Permit Extension by April
02.23.2024 - NEWS
February 23, 2024 [Oil Price]- The Federal Energy Regulatory Commission will try to be quick in d... Read More
Shell's LNG Trading Makes $2.4 Billion in Final 2023 Quarter, Sources Say
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Nearly a third of Shell’s (SHEL.L), opens new tab profit in th... Read More
Europe, Africa Oil Markets Tighten, Lending Support to Futures
02.23.2024 - NEWS
February 23, 2024 [Reuters]- Red Sea shipping delays and OPEC+ supply cuts are tightening physica... Read More
Concluded Joint Development Agreement for Production of Sustainable Aviation Fuel (SAF) from Woody Biomass in the US
02.23.2024 - NEWS
February 23, 2024 [Sumitomo Corporation]- Sumitomo Corporation, through Sumitomo Corporation of A... Read More