TotalEnergies SE has pledged to purchase two million metric tons per annum (MMtpa) of liquefied natural gas (LNG) for 20 years from the upcoming Ksi Lisims LNG project in British Columbia.

Alongside this, the French energy giant acquired a 5 percent stake in Western LNG LLC, a key partner and future operator of the project.“This acquisition grants TotalEnergies the option to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10 percent when the final investment decision is made,” the company said in an official statement.

The Ksi Lisims LNG facility, expected to begin operations by 2029, will have a capacity of 12 MMtpa and is touted as the world’s lowest-emission LNG project.

It will feature two floating LNG production and storage units built by Samsung Heavy Industries, utilizing all-electric process technology developed by Black & Veatch Corp.Located on Indigenous land near the Pacific coast, the project offers “privileged access” to Asian markets, the world’s largest LNG consumers, noted Stéphane Michel, TotalEnergies’ president for gas, renewables, and power.

He added, “This purchase of LNG from the future Ksi Lisims LNG plant will allow us to diversify our LNG portfolio in North America and benefit from competitive LNG supply in Western Canada to better serve our Asian customers.”

TotalEnergies aims to raise natural gas to nearly 50 percent of its sales mix by 2030. Shell PLC, the project’s other major buyer, has also committed to purchasing two MMtpa for 20 years.

“LNG is a critical pillar of global energy security and global demand is set to increase in the years to come,” said Steve Hill, then Shell Energy executive vice-president.

“We are pleased to sign this agreement with Ksi Lisims LNG which will help Shell to continue providing diverse and flexible LNG supply to its customers.”Construction for the project could begin this year as it undergoes environmental assessments and preliminary engineering.