Ksi Lisims LNG signs 20-year supply deal with Santos

Ksi Lisims LNG, a proposed $30-billion liquefied natural gas (LNG) project in British Columbia, has signed a heads of agreement with Australian energy firm Santos. The deal involves the sale and purchase of 1 million metric tons of LNG per year over a 20-year term, with supply expected to commence around 2031.

In a related development, Santos announced it has also signed a 10-year LNG supply agreement with POSCO Steel, sourced from its diversified global portfolio, with deliveries expected to begin in 2030 or 2031.

The Ksi Lisims project, which is a partnership involving the Nisga’a Nation, Rockies LNG, and Western LNG, aims for a total capacity of 12 million tonnes per annum (MMtpa). This agreement marks the third international offtake deal for the project this year, following similar agreements with German companies SEFE and Uniper. The project is designed to be one of the world’s lowest-emission LNG operations, with emissions reportedly 94 percent below the global average.