The Globe and Mail reports in its Thursday edition that backers of the Ksi Lisims LNG project say they are moving closer to making a decision to forge ahead with construction in British Columbia after signing a deal with Germany's state-owned utility SEFE.
The Globe's Brent Jang writes the deal will allow Berlin-based SEFE, which is short for Securing Energy for Europe, to have the flexibility to schedule shipments of liquefied natural gas globally.
Houston-based Western LNG, the Nisga'a Nation and a group of natural gas producers named Rockies LNG are collaborative partners in the Ksi Lisims project, which plans to ship 12 million tonnes a year of the fuel from northwest B.C. to Asia.
"Our agreement with SEFE reflects growing confidence in Ksi Lisims LNG, our commercial and engineering approach, and brings our project a significant step closer to starting construction," Western chief executive officer Davis Thames said in a statement on Wednesday.
Western, which is the equity owner of Ksi Lisims, has investors that include an affiliate of New York-based Blackstone.
Nisga'a leaders have touted Ksi Lisims and the planned Prince Rupert Gas Transmission pipeline project as prime examples of economic reconciliation.
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