Canada to export liquefied natural gas to Germany, official says

Key Points:

• Canada has reached an agreement to export up to 1 million metric tons of liquefied natural gas (LNG) annually to Germany via the planned KSI Lisims terminal on British Columbia's Pacific Coast.
• The deal with Germany’s SEFE group, a nationalized former Gazprom subsidiary, is a critical step toward finalizing the $10-billion KSI Lisims LNG export facility project.
• British Columbia Premier David Eby emphasized that securing offtake agreements with international buyers like SEFE is essential for the consortium to make a final investment decision and begin construction.
• The KSI Lisims project already has supply agreements with Shell and TotalEnergies, aiming to diversify Canada's energy exports beyond the U.S. and support Europe's energy needs amid the ongoing crisis caused by reduced Russian gas supplies.
• This initiative aligns with Canadian Prime Minister Mark Carney’s goal to double non-U.S. trade within a decade, helping Europe reduce dependency on Russian energy following geopolitical tensions and the war in Ukraine.