Shell Signs 20-year Supply Deal With Canadian LNG Upstart
- British Columbia project adds to Shell’s LNG Canada position
- First binding deal for project targets Asia energy markets
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Shell Plc. signed a long-term deal to buy liquefied natural gas from a Canadian floating export facility to serve energy markets in Asia.
The deal, which calls for 2 million metric tons a year of LNG over 20 years, is the first binding agreement for the proposed Ksi Lisims project, the companies said Monday. The LNG would be lifted on a free-on-board basis by Shell Eastern Trading Pte Ltd. The estimated C$9.9 billion ($7.4 billion) project in remote British Columbia could be ready by 2030, pending a full investment decision.