TotalEnergies (TTE) said Monday it would purchase liquefied natural gas from the Ksi Lisims project in Canada.
The company entered an agreement to buy 2 million tonnes per year of LNG from the future liquefactaion plant for 20 years.
Simultaneously, the company will acquire a 5% stake in Western LNG, the developer, shareholder, and future operator of Ksi Lisims project.
The company said it also has the option to raise its stake in Western LNG or take a direct stake of up to about 10% in the Ksi Lisims plant.
The LNG purchase agreement is subject to a final investment decision, TotalEnergies added.
The Ksi Lisims facility is expected to have a total capacity of 12 million tonnes per year and is located on the Pacific coast of British Columbia.
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