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(Bloomberg) — TotalEnergies SE signed a new longterm deal with a proposed project for Canadian liquefied natural gas exports, bolstering the French energy major’s global portfolio of the fuel.
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The agreement calls for TotalEnergies to take 2 million metric tons a year from the planned Ksi Lisims site in British Columbia, developed by Western LNG. The deal is for 20 years, according to a statement Monday.
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The move comes as demand for LNG is expected to soar in the coming years, partly driven by an expected jump in power consumption from data centers and artificial intelligence. Global demand is also expected to be underpinned by countries looking to decarbonize away from dirtier fuels and amid Europe’s pivot away from Russian gas. Canada is looking to transform itself into a major source of the fuel, similar to the US, which has become the world’s largest supplier.
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The TotalEnergies deal follows Shell Plc’s accord with Western LNG in 2024. The new agreement also allows for TotalEnergies to invest in Western LNG and potentially increase its ownership stake, pending certain milestones.
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The Ksi Lisims project is backed by the First Nations indigenous group Nisga’a Nation, a consortium of Canadian gas producers known as Rockies LNG, which include Ovintiv Inc., and Houston-based Western LNG. Ksi Lisims is designed to produce a total of 12 million tons a year in capacity.
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The development of Ksi Lisims comes as Western Canada is poised to start exports from the LNG Canada complex, due to start production this year.
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—With assistance from Francois de Beaupuy.
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