BURSTCanada has signed a major deal to sell one million tonnes of liquefied natural gas per year from Ksi Lisims LNG to Germany for the next 20 years.
“We must translate advantage into action,” federal Energy Minister Tim Hodgson said in Vancouver on Wednesday. “We must build projects that strengthen our economy, that diversify our supply chains, and that enhance our energy sovereignty as well as expand our exports beyond a single market.”
The natural gas is to be bought by the German company Securing Energy for Europe (SEFE) .
Ksi Lisims is a proposed floating liquefaction terminal northwest of Prince Rupert, planned to be the main export station for the Prince Rupert Gas Transmission pipeline. The provincial government has approved the terminal project, but it has yet to secure its final investment decision.
Hodgson said he is confident the project will receive a final investment decision in “a matter of months.”
He promoted the deal as a way to supply other friendly nations in need, while simultaneously boosting the economy at home.
“Global energy markets are highly integrated, and it’s getting clearer and clearer that integration is potentially a vulnerability for our allies around the world, especially in Europe and Asia,” Hodgson said. ”However, this is a vulnerability Canada can help solve with responsible development and new exports of our energy resources.”
More to come.