Financial Wire

Market Chatter: European Buyers Look to Canada for LNG Supplies

-- European energy giants, including Germany's Uniper, are in talks to secure long-term liquefied natural gas supplies from Canada's Pacific coast, Reuters reported Wednesday citing sources.

The Iran conflict has sparked a strong interest in Canada's proposed Ksi Lisims LNG project from global buyers, the report said.

Buyers are reportedly willing to absorb the high costs of Panama Canal transit to access stable energy sources, it said.

The Ksi Lisims project is a partnership between Western LNG, Rockies LNG, and the Nisga'a First Nation.

While the facility is years from completion, it has been placed on a fast-track for permitting by the government of Prime Minister Mark Carney, the report added.

Energy giants Shell (SHEL) and TotalEnergies (TTE) have already secured 20-year purchase agreements with the terminal, it added.

has contacted the parties involved seeking comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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