Ksi Lisims LNG converts German utility's letter of intent into 20-year contract
The potentially $30-billion North Coast project now has a binding sales contract for a 20-year term. A final investment decision has not yet been made.
Reported by Vancouver Sun; confirmation from Ksi Lisims LNG pending.
Illustrative photoA letter of intent from a German utility has become a binding 20-year sales contract with Ksi Lisims LNG, moving the liquefied natural gas project on B.C.'s North Coast a step closer to a final investment decision.
The Vancouver Sun reported the conversion, describing the customer as a German utility. According to the report, it is the latest of several letters of intent the project has turned into firm contracts.
The project is potentially worth $30 billion, which would make it one of the largest private investments proposed for the northwest coast. That decision to proceed has not yet been made, and the contract does not settle it.
For now, the agreement gives the North Coast project a binding commitment for two decades of sales, while the final investment decision remains ahead.
Sources
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