The partners in the Ksi Lisims LNG project have signed their first long-term offtake agreement.
The Ksi Lisims LNG Limited Partnership announced today that Shell Eastern Trading Pte Ltd. – a Royal Dutch Shell holding company based in Singapore – has signed a 20-year offtake contract for 2 million tonnes of LNG per year. That would be 16.6 per cent of the Ksi Lisims’ annual production of 12 million tonnes.
“This is the first LNG offtake agreement executed by Ksi Lisims LNG,” the company said in a press release.
The Ksi Lisims project is a partnership between the Nisga’a First Nation, Rockies LNG Limited Partnership and Western LNG LLC.
“LNG is a critical pillar of global energy security and global demand is set to increase in the years to come,” said Steve Hill, executive vice president of Shell Energy. “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 Ksi Lisims project is being designed as a floating LNG project, with two floating LNG production and storage facilities at the northern tip of Pearse Island.
The project is still in the early stages of an environmental review with the BC Environmental Assessment Office.
“The Nisga’a Nation has been striving to grow economic opportunities for our people right here at home," said Nisga’a Lisims Government President Eva Clayton.
"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."
